Why are models based on assumptions? a. because models are not intended to analyze real-world events. b. because models are only concerned about questions of equity, not question of efficiency. c. because models have to be simplified to be useful. d. because models are very different from theories.

Models are based on assumptions because models have to be simplified to be useful.

Option C.

Explanation:

Model is a computer program which helps to predict the situation as to what might have happened. Models are used almost in every aspect, be it economics or science or biology.

Assumptions are necessary because there are many complexity in every system and it is thus essential to have an understanding of the working of those system. It is necessary to remove the complexities for models to be useful. Models which aren’t based on assumptions are massive which is turn creates a problem. Thus it is necessary that models are simplified to be useful.