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Think back about the material covered during the course and pick one model or topic. What topic do you believe was the one treated in the most unrealistic way? Provide a discussion of the shortcomings of such treatment and an idea about how some relevant aspects of economic life could be introduced into the discussion.
You will need to show a solid understanding of the topic and proceed as follow: summarize the topic or model (it's a good idea to use the textbook for this task); describe an aspect of reality whose relevance is not, in your opinion, suitably captured by the aforementioned topic; discuss how the treatment of the topic could provide a better understanding of reality by including the elements you identified.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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