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Q. d - For Critical Thinking

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Economics Today
Found in: Page 8

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Short Answer

In what way do small talk and gossip represent the use of simplifying assumptions?

Small talk and gossips make the work smaller and are used to simplify assumptions.

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Step by Step Solution

Step 1. Definition of Economics.

Economics refers to the satisfaction of wants by use of various alternative uses.

Step 2. Reason.

Small talk and gossip represent the use of simplifying assumptions because they are used as simple ways to reach a conclusion similar to assumptions.

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