Question

How is the iceberg model relevant in economics?

Answer 1

It can be mentioned that iceberg model is actually relevant in economics and this is all because of the fact that people actually see the outcomes in Economics such as you can actually observe the GDP which is the tip of the iceberg but what underneath the iceberg is not observed what are the actual culture of the society and why the economy is functioning like that and The structures that are involved in taking the economy to that level etc would be underneath as a result of which you can understand that it is more relevant in Economics as well

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