Social Sciences and History / Unit 13 SSH 1203 short lesson, about 20 seconds
A Theory Is a Tool
Captions available
The idea
Economists' main tools are theories, or models; the anchor's glossary treats the words as one. A theory is a simplified representation of an object or situation keeping enough key features. It is not an illustration of the answer to a problem but a tool for determining the answer.
In practice
Ceteris paribus: other things equal.
Where people slip
Judged by whether it finds answers.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
Unlocks
- Nothing yet depends on this.
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