which best describes the purpose served by economic models within an economic system?\nmodels identify…
which best describes the purpose served by economic models within an economic system?\nmodels identify patterns.\nmodels determine the business cycle.\nmodels control change.\nmodels define global demand.
Answer
Brief Explanations:
Economic models simplify complex economic systems to identify patterns and relationships among variables. They cannot determine the business - cycle precisely as it is influenced by many unpredictable factors. They also cannot control change or define global demand accurately due to the dynamic and vast nature of the economy.
Answer:
Models identify patterns.