Question

Economic models a. are constructed to mirror reality as closely as possible, and in this respect economic models are no different from other scientific models. b. are constructed to mirror reality as closely as possible, and in this respect economic models are very different from other scientific models. c. are simplifications of reality, and in this respect economic models are no different from other scientific models. d. are simplifications of reality, and in this respect economic models are very different from other scientific models

Answer 1

C). Are simplifications of reality, and in this respect economic models are no different from other scientific models.

Step-by-step explanation:

Economic models are demonstrated as the simplified versions of reality or complex quantitative relationships or economic behavior. In this respect, the economic models would not be considered different from scientific models as both of them tend to present reality either in an explanatory manner or in a simplified version. Both the models involve the direct observation and conceptual representation of a real object, process, or behavior. Therefore, option C is the correct answer.