which best describes the purpose served by economic models within an economic system? models identify…
which best describes the purpose served by economic models within an economic system? models identify patterns. models determine the business cycle. models control change. models define global demand.
Answer
Brief Explanations:
Economic models simplify complex economic systems to identify patterns and relationships among variables. They don't determine the business - cycle precisely as it has many unpredictable factors, can't control change, and don't solely define global demand.
Answer:
Models identify patterns.