Respuesta :
When making economic decisions, economists make assumptions in order to better understand how consumers' and businesses' behavior.
In order to build a model that they can control because economists are unable to isolate certain factors in the real world, they must make assumptions. Its main objective is to describe and examine the prices and volume transacted in a market that is competitive. Equations in the model calculate supply and demand levels in relation to price and other factors (for example, income). Which analysis of economic theory holds up the best? predicting with the help of the scientific way of thinking (developing a theory from basic principles and testing it against events in the real world.) The following is an illustration of a normative economic statement: "The government should offer universal access to basic healthcare." As you One might infer from this that it is value-based, based on one's own perspective, and meets the criteria for what "should" be.
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