Asked by
Nikhil Rajulapati
on Oct 09, 2024Verified
The process by which economists test hypotheses against facts to develop theories,principles,and models is called:
A) the economic perspective.
B) the scientific method.
C) policy economics.
D) microeconomics.
Scientific Method
The procedure for the systematic pursuit of knowledge involving the observation of facts and the formulation and testing of hypotheses to obtain theories, principles, and laws.
Economists
Professionals who study and analyze economies, including their production, distribution, and consumption of goods and services.
Hypotheses
Proposed explanations made on the basis of limited evidence as a starting point for further investigation.
- Acknowledge the scientific method as a process of inquiry in economics.
Verified Answer
AT
Learning Objectives
- Acknowledge the scientific method as a process of inquiry in economics.