A simplified representation of the real world that is used to explain economic phenomena is a(n)
A) viewpoint.
B) model.
C) assumption.
D) implication.
B
Economics
You might also like to view...
GDP does not account for things we do not value or like, and these things are called "economic bads."
Indicate whether the statement is true or false
Economics
Collusive agreements tend to break apart because the incentive to cheat is so great
Indicate whether the statement is true or false
Economics