Isn't that a big problem? A model should include as much information as possible, right?

George

Well, let's think our way through that. One example of a model in everyday life is a road map telling you how to get from one place to another.

Let's say I want to show you how to get from your house to my house as efficiently as possible. Should I maximize detail on the map or try to keep it only to the most important points, like where to turn or an important landmark?

Maximum detail would be most helpful. I want to know about every blade of grass!

A good road map would keep only the most important points and leave out unnecessary detail.

Land, labor, and capital

Market: factors of

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