Answer:
b. are simplified abstract representations of reality
Explanation:
Economic model -
It refers to as the simplified version of the economic behavior , which helps to learn about the economic observation and prediction , is referred to as an economic model .
In model is a very simplified form of the complex situation and information of economics.
In a very designed economic model , many situations and problem can be diagnose easily .
Hence, from the given options of the question ,
The correct option is b .
