What is Model?

A model is a simplest representation of real objects or situations.

Here, the representation includes only essential and relevant features. For example: A scale model rail road is a physical replica of general appearance and the operating characteristics of the real of the real things. There are 3 types of model. These are-

1.      Iconic Model;

2.      Analog model; and

3.      Mathematical model.

1.   Iconic Model: A physical replica of the real situation or object is called iconic model. For example, Toys, Photograph of rail road etc.

2.    Analog model: A physical form that doesn’t look like the real object or situation is called analog model. For example, An organization’s chart, Graphical representation etc.

3.    Mathematical Model: A system of symbols and mathematical expression that represents the real situation is called mathematical model. For example,

P=QR, Where,

P= Total Profit,

Q= Quantity Produced

R= Profit per Unit.