A model generally means representation of something. A model sometimes can be a toy car or a person. In macroeconomics a model is designed to simulate an operation in business life. Model are tried for preventing or fixing errors. Models are also using in computer technologies too. (3D modeling). For industrial engineering, model of system is used for simulate this system and check and fix errors.
http://wordnet.princeton.edu/perl/webwn?s=model
http://en.wikipedia.org/wiki/Model_%28macroeconomics%29http://www.ichnet.org/glossary.htm
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