Abstract reasoning, how does it apply to economics?

What are the aplications of abstract reasoning , how can they be applied to economic situations.

abstract reasoning is theoretical and not extremely practical. But, many abstract ideas can be applied to economics. almost all the graphs you see in economics are all abstract. The Phillips Curve for example which compares interest rates to unemployment could never be exactly straight in real life. Also economic profits are more abstract than accounting profits. Economic profits consider the opportunity cost of the next best forgone option. But the profitability of this option is never truly clear. That's why it is impossible for all of the reasoning in economics to be entirely clear cut.
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