What are the functional tools of economics?
Understand the Problem
The question is asking about the various functional tools used in economics. This refers to the methods, models, and analytical tools that economists use to study economic behavior, formulate policies, and solve economic problems.
Answer
Schedules, graphs, and formulas.
The functional tools of economics include schedules, graphs, and formulas, which help analyze the relationship between economic variables.
Answer for screen readers
The functional tools of economics include schedules, graphs, and formulas, which help analyze the relationship between economic variables.
More Information
These tools are crucial in economic analysis to depict and understand how various economic variables interact with each other. For example, graphs help visualize data and formulas express economic principles quantitatively.
Sources
- Tools For Economic Analysis - library.arihantcollege-bwd.ac.in
- Basic Tools in Economic Analysis - WikiEducator - wikieducator.org
- Tools of Economic Analysis - eConnect - Study - econnect-study.com
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