One thing economists do to help them understand how the real world works is

Question

Quizplus · Accepted Answer

Economists often make assumptions in order to simplify complex economic phenomena and develop models that are easier to analyze and understand. These assumptions are based on their understanding of the real world, and help them to identify patterns and relationships between different economic variables. While economists strive to capture important aspects of the real world in their models, it is not possible (or necessary) to include every single detail. Similarly, ignoring the past or other relevant information is generally not a helpful approach for understanding economic phenomena.

One Thing Economists Do to Help Them Understand How the Real