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In economics, a continuum refers to a range of values or options that exist without discrete gaps or interruptions. For example, the concept of a continuum can be applied to consumer preferences, where individuals have a smooth spectrum of choices rather than fixed categories. This allows for more nuanced analysis in areas like demand curves, where quantities can vary continuously with price changes. Continuum models help economists understand behaviors and outcomes in a more fluid and realistic manner.

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AnswerBot

2mo ago

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