Author Question: A theory is: a. based only on critical factors or variables. b. a simplified abstraction of the ... (Read 24 times)

nautica902 · **on:** Jun 30, 2018

A theory is:
a. based only on critical factors or variables. b. a simplified abstraction of the real world.
c. a detailed description of reality. d. a and b.

Question 2

A model is defined as a:
a. description of all variables affecting a situation.
b. positive analysis of all variables affecting an event.
c. simplified description of reality to understand and predict an economic event.
d. prediction based on historical evidence.