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The multi-store model is an explanation of memory that we have studied in Psychology. It assumes there are three separate memory stores, and that information is transferred from one store to another between these stores in a linear sequence.

If I were to explain the model to an individual that does not have any previous knowledge of the model, or the subject, Psychology, the outcome would be that they may understand the explanation only because they have applied to instances in their real life. However, they may alter the model to fit their understanding, which will not give justice to the true explanation. (Ex. They may mix the stores and the order of understanding.) Again, the model is just a theory, it cannot be applied to everyone.

Similarities to Reality:

Can be used to describe some cases in human memory/understanding

People may use the model to understand STM and LTM

Differences:

There are variations of the model (Working Memory Model)

Not everyone thinks, memories and understands through the same means

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Kihan                                        Maslow's Hierarchy of Needs - Business Management

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Kihan                                        Maslow's Hierarchy of Needs - Business Management

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Maslow's Hierarchy of Needs shows how employees may be motivated to work harder. It consists of a hierarchy with different levels from the bottom to the top of the pyramid, showing what an employee must prioritise. The bottom of the hierarchy begins with physiological needs which are the most basic needs for survival. Higher up are Safety and Security needs, and then Love and Belonging needs. Next comes Self-esteem and the most prioritised need is Self-actualisation. This model displays how employee motivation may be correlated to real life and identify what essentially motivates employees in the long run.

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The monetarist model, which emphasizes the importance of controlling the money supply to stabilize the economy, has been influential in shaping monetary policy in many countries over the past several decades. However, like any economic model, its accuracy and relevance to reality are subject to ongoing debate and empirical testing.

Although the monetarist model is quite straightforward, some individuals who do not have a clear understanding of economics, may not be able to decode the inner workings of it. When explained, however the model becomes easier to comprehend. However the usefulness of this model is quite limited as, people who do not want to understand economics, cannot gain any benefit from this.

This model does have its differences and similarities to the world its trying to visualize.

Differences include, the closeness and the ease of moving inflation around, in the real world inflation is extremely difficult to change, however in the model at hand, inflation seems to be extremely easy to manipulate. In the economics world, many also believe that it is a very oversimplified model of the economy, and most economic happenings will not work in this simplified way. It may also not apply to more complex concepts, like the benefits or disadvantages of consuming or producing something on 3rd parties, most government happenings are based on these Negative externalities, which are not taken into consideration in this model

For simpler economics happenings, the model can accurately describe what is taking place. Such as the normal movement of the supply curve and demand curve.

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The BCG matrix is a business management tool is used to analyze a firm's product portfolio. It can aid a business to help with long term strategic planning. It can help business identify : Stars, Cash Cows, Question marks and dogs. The market share and market growth of a firm and analyzed and placed into the BCG matrix

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The BCG matrix is a business management tool is used to analyze a firm's product portfolio. It can aid a business to help with long term strategic planning. It can help business identify : Stars, Cash Cows, Question marks and dogs. The market share and market growth of a firm and analyzed and placed into the BCG matrix

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The model has been influential in shaping economic policy in many countries, and its has been applied in various forms in response to economic crises . the model can be useful in explaining certain economic problems , such as the role of government spending in economic growth during times of recession.

The Keynesian model acknowledges that income inequality can lead to economic instability  Governments around the world use progressive tax and social welfare programs to reduce income inequality and promote social welfare

In today's globalized economy, the impact of government policies on the economy can be influenced by international trade, investment, and capital flows.

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1. One of your natural science subjects?

2. One of the group 3 subjects?

Are there similarities and differences between them?

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Already  know (K) What  they want to know (W), What  they learnt from the activity (L), and How they can learn more (H)

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Already  know (K) What  they want to know (W), What  they learnt from the activity (L), and How they can learn more (H)

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K,W,L,H.

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Old economics is based on false ‘laws of physics’ – new economics can save us

It is time to ditch the belief that economies obey rigid mechanical rules, which has widened inequality and polluted our planet. Economics is evolving
https://www.nytimes.com/2015/11/01/upshot/the-power-of-nudges-for-good-and-bad.html?&moduleDetail=section-news-3&action=click&contentCollection=Economy&region=Footer&module=MoreInSection&version=WhatsNext&contentID=WhatsNext&pgtype=article

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The Power of Nudges, for Good and Bad (Published 2015)

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Nudges that benefit companies and not consumers are a misguided use of a principle of behavioral economics.