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Instead of being concerned with what actually happens in practice … [economics] is increasingly) reoccupied with developing pseudo-mathematical formulas. These provide models of behavior which never quite fit what actually happens, in a way which resembles the physical sciences ;one wrong: instead of equations describing reality, economics produces equations describing deal conditions and theoretical clarity of a type which never occurs in practice’.
Which of the following best summarises the argument of this paragraph?
Economics ought to be more like the physical sciences.
Theoretical clarity is undesirable in economics.
The physical sciences are wrong to emphasise mathematic formulae.
The mathematical equations used by economists do not accurately describe the real world.
The argument states the models and theories of economics (that are based on mathematical formulae) are too idealistic and far from real and practical. Hence, option 4 is the correct answer.
By: Amit Kumar ProfileResourcesReport error
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