Answer to Question 1
An economic theory is a simplified version of reality. It is a general statement about the causal relationship between economic phenomena based on facts. A truly good theory will predict well, explain economic behavior, indicate to what extent the predicted outcome is expected to occur, and indicate how long it will take for the predicted outcome to be observed.
Answer to Question 2
Macroeconomics studies the entire national economy. Microeconomics focuses on a particular segment within the entire economic system.
The threespine stickleback (Gasterosteus aculeatus) has been used as a model organism for the study
Model of a nursing clinical decision support system
Model of the Reading Process
Information Processing Model The components of the model operate simultaneously.
Elaboration Likelihood Model of Attitude Change
economic question