model
A stylized simplification of reality in which behavior is represented by variables and by assumptions about how they are determined and interact. Models enable one to think consistently and logically about complex issues, to work out how changes in an economic system matter, and (sometimes) to make predictions about economic performance.
Browse by Subjects
success
flop
Fair price
marketing
budgeting models
See All Related Terms »

regressive taxation
listed securities
underlying asset
cash budget
paternity leave