Student Solution

-->

"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

1 University

1 Course

1 Subject

8-2 Simulation Discussion

8-2 Simulation Discussion

Q • What are the human behaviors economists should observe when creating economic models? Example: people tend to find solutions that are good enough, but not the best solutions.

View Related Questions

Solution Preview

It is important to take into consideration of the fact that an economist usually involves in creating one of the three models. The three models are namely visual models, simulation models and mathematical models. But for any economist to create the most effective form of model it is important for them to place their focus on the behaviors and