What is a good response to the information below?

....Opinion on it.....

In economics people are said to be rational, independent and individuals maximize utility while firms tend to maximize profit. For one, people who tend to be rational for 6 days out of the week can have a day where they reflect irrational behavior. So this would be unrealistic.

A good model would have to be one containing graphs, and math tools. The use of some math tools help add accuracy. In an article I read it stated that "sometimes using these math tools makes it more "reliable."" A good model is simple enough to be understood while complex enough to capture key information."

Lastly, the article I have reviewed circular flow diagram. This shows how there are two groups households and firms. It shows how how goods, services, and money move through the economy which is always fundamental information to have.

References

Learning, L. (n.d.). Macroeconomics. Retrieved October 28, 2020, from https://courses.lumenlearning.com/wm-macroeconomics/chapter/economic-models/