its a question in an essay i need to do..but dont even know what a pitfall is thanks
2007-02-23 05:28:23 · 3 answers · asked by calidude5592000 2 in Social Science ➔ Economics
An intellectual error giving rise to an unforeseen or unexpected or surprising difficulty. The advise of economist to the former USSR after its collapse stands out in recent history. Their are many examples of models being mistaken for reality.
2007-02-23 17:06:29 · answer #1 · answered by meg 7 · 0⤊ 0⤋
A pitfall in economics could be associated with the inaccurate results obtained by applying the theories of microeconomics onto situations requireing the implementation macroeconomics or vice versa.
2007-02-23 09:04:19 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Think of pitfall as a mistake or an oversight. An example would be sunk cost
2007-02-23 16:01:37 · answer #3 · answered by sunsetconmartini 2 · 0⤊ 0⤋