What do most economic models do
A)They incorporate the assumption of rational behaviour on the part of economic actors.
B)They incorporate the notion that people are usually reluctant to change their minds.
C)They try to duplicate reality.
D)They try to describe behaviour rather than prescribe behaviour.

Question

Quizplus · Accepted Answer

Most economic models incorporate the assumption of rational behavior on the part of economic actors. This means that individuals are assumed to make decisions based on their own self-interest and are able to weigh the costs and benefits of different actions.

What Do Most Economic Models Do