Difference between revisions of "Model"
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[Model]]. A simplified representation of an object or situation that includes enough of the key features to be useful. | :[[Model]]. A simplified representation of an object or situation that includes enough of the key features to be useful. | ||
| + | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
| + | :[[Model]]. A simplified representation of reality, often using diagrams or equations, that shows how variables interact. | ||
| + | |||
==Related concepts== | ==Related concepts== | ||
Revision as of 17:42, 2 July 2020
Model is an abstraction of reality, a simplified representation of some real-world phenomenon.
Definitions
According to Organizational Behavior by Robbins and Judge (17th edition),
- Model. An abstraction of reality, a simplified representation of some real-world phenomenon.
According to Principles of Economics by Timothy Taylor (3rd edition),
- Model. A simplified representation of an object or situation that includes enough of the key features to be useful.
According to Macroeconomics by Mankiw (7th edition),
- Model. A simplified representation of reality, often using diagrams or equations, that shows how variables interact.
