Which of the following best describes the difference(s) between a model and a theory?
a. A theory is a more abstract representation, while a model is more applied or empirical representation.
b. A model is a more abstract representation, while a theory is more applied or empirical representation.
c. Theories are used to test models.
d. Models have been proven, but theories are still being investigated.
a. A theory is a more abstract representation, while a model is more applied or empirical representation.
You might also like to view...
Large commercial banks are considered to be market makers because:
A) without them, there would be no foreign exchange market B) they can easily manipulate the value of currencies in the foreign exchange market C) they are willing to buy and sell major currencies at any time D) they created the foreign exchange market
All the below choices are examples of promoting a firm's product, except
a. Advertising b. Pricing c. Discount coupons d. End-of-aisle displays