An economic model is an ideal or utopian type of economy that society should strive to obtain through economic policy.

Name: An economic model is an ideal or utopian type of economy that society should strive to obtain through economic policy.
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An economic model is a simplified representation of a real-world economy used to analyze and understand economic behavior, not an ideal or utopian type of economy that should be achieved through policy.

An Economic Model Is an Ideal or Utopian Type of Economy