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3 Nov 2021
Introduction
Economic Model:
An economic model is a strategy that governs the understanding, observation, and forecasting of economic behavior. An economic model has several characteristics. Empirical consistency, parsimony, generalizability, tractability, predictive precision, conceptual insightfulness, and falsifiability are some of these traits. Furthermore, an economic model is important since it is utilized to choose data and is based on an econometric study pattern.
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