it presumes some huge things.

like, that selling light bulbs that expire in weeks is better for the supply curve.

or presumes that workers might never beat the prisoners dilemma and the central banks will always keep the correct unemployment rate.

or that consumers will never make any informed purchase and will always drive process to bottom for a good demand curve.

etc.

the thing is, it works very well, because the system accepted that dogma just like feudalism accepted looks were ordained from god, despite having to hold an army to keep god's word... so the models work, but you must accept the whole theology, which is never mentioned in any level of economics (well, it's briefly mentioned as tools in development economy)