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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

A theory is an abstraction from reality. What does this statement mean?

To determine

Explain the given statement.

Explanation

The theory is an abstraction from reality or it is a simplified version of real world situation which is built with the aim of easy and better understanding. The purpose of forming a theory is to explain ...

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