The muskrat is found in wetlands over a wide range of climates and habitats. It has important effects on the ecology of wetlands and is a resource of food and fur for humans.The muskrat is the largest species in the subfamily Arvicolinae, which includes 142 other species of rodents, mostly voles and lemmings.Muskrats are referred to as  rats  in a general sense because they are medium-sized rodents with an adaptable lifestyle and an omnivorous diet.he muskrat is found in wetlands over a wide range of climates and habitats. It has important effects on the ecology of wetlands and is a resource of food and fur for humans. The muskrat is the largest species in the subfamily Arvicolinae, which includes 142 other species of rodents, mostly voles and lemmings.
1 KRS College of Management Studies, Nasik. 2  An economic model is a mathematical or logical statement of economic theory. 3  It is a method of analysis which presents an over-simplication of the real world. 4  Economic Models can set up with diagrams, words, equation form, etc.
In general terms, economic models have two functions: first as a simplification of and abstraction from observed data, and second as a means of selection of data based on a paradigm of econometric study.esearch conducted according to this three-question test finds that in the 2004 edition of the Journal of Economic Theory, only 12% of the articles satisfy the three requirements.â Ignoring the fact that the ceteris paribus assumption is being made is another big failure often made when a model is applied.