Economists develop models to A. capture every detail of the real world. B. justify the assumptions they make about%E2%80%8B people's behavior. C. make their arguments more realistic. D. help us understand economic phenomena in the real world.

An economic model is a caricature of reality. It allows users to observe, understand and predict economic phenomena. Economic models don't capture every detail of the real world

Examples of economic models include :

the production possibility frontier
the Keynesian IS/LM model
the Mundell-Fleming model.

The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.

The PPC is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.