From the perspective of economists, which term provides the highest degree of confidence for explaining economic behaviour?
A)an economic principle or a law
B)a fact
C)a hypothesis
D)an assumption

Question

Quizplus · Accepted Answer

An economic principle or law provides the highest degree of confidence for explaining economic behavior as it is based on empirical evidence and has been tested over time. Facts, hypotheses, and assumptions are all important in economics, but they do not provide the same level of confidence as economic principles and laws.

From the Perspective of Economists, Which Term Provides the Highest