Economists build models to identify relationships between variables and thus help them predict the effects of changes in some variables on others. Identify the economic model-building process by selecting the appropriate labels from the dropdown menus in the table below.
Step 1 Impose complications
Step 2 Model development
Step 3 Problem identification
Select variables
Testing a theory
In order to be useful, models require___assumptions.

See explanation

Explanation:

Based on the information that's given above, the economic model-building process will be:

Step 1: Problem identification

Step 2: Model development

Step 3: Testing a theory

An economic model simply means a simplified version of reality which enables Economist to be able to observe, and make forecast with regards to economic behavior.

Lastly, in order to be useful, models require (simplifying) assumptions.

c

explanation:

c because the item on a bank statement is also referred to as an account statement. in addition, it provides the beginning balance, ending balance, statement date, transaction date for each transaction, payee, customer name and address, statement period, the account holder's account number, and the bank's customer service number

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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