新建 Microsoft Office Word 文档 (2)

新建 Microsoft Office Word 文档 (2)

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Science is a method – a process of forming hypotheses, making predictions and testing the predictions against the facts. Model Building: The essential detail Irrelevant detail Model Testing: Models can’t be judged by the realism of their assumption, but only by the accuracy of their predictions. Usually, most tests illustrate the notion of model building by presenting several models – one of which is invariably the production possibility frontier. The production possibility frontier ( PPF ) model provides a visual illustration of the contrast between efficiency and inefficiency. It also illustrates opportunity cost and the inevitability of trade-off Robinson Crusoe’s situation that is Crusoe on his desert island has to divide his time between two activities, fishing and gathering coconuts. Devoting more time to fishing implies less time for coconuts; the opportunity cost of one more fish is the number of coconuts forgone.
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