Asked by Robyia Spriggins on Jun 06, 2024
Verified
Economists make assumptions to
A) minimize the number of experiments that yield no useful data.
B) develop models when the scientific method cannot be used.
C) provide issues for political discussion.
D) simplify the complex world and make it easier to understand.
Assumptions
Premises or conditions accepted as true without proof, used as the basis for reasoning, discussion, or calculation.
Simplify
The process of making something less complex or easier to understand by reducing it to its basic components.
Scientific Method
A systematic and logical approach to discovering how things in the universe work, involving observation, hypothesis formulation, experimentation, and conclusion drawing.
- Comprehend the significance and objectives of economic models.
Verified Answer
GB
gloria borgerJun 07, 2024
Final Answer :
D
Explanation :
Economists use assumptions to simplify the complexities of the real world, making it more understandable and manageable to study and predict economic outcomes.
Learning Objectives
- Comprehend the significance and objectives of economic models.