Generalizing: is it possible to create all-purpose simulations?

The title poses the essential question addressed: is it possible to construct simulations that permit use in application domains with widely ranging objectives? The question is raised in a tentative explanation of what is entailed in an answer. Beginning with a taxonomy based on simulation objectives, we identify differences among the categories with respect to what is attendant in realizing different objectives and in using associated methodologies and tools. The closing summary highlights the importance of producing an answer or eliminating the question.