Of the following,which is the most important characteristic of a successful theory?
A)The theory provides a basis for facts about economic behaviour.
B)The theory could never be refuted.
C)The theory adequately explains all economic behaviour.
D)All assumptions on which the theory is based are true.
E)The theory allows us to predict behaviour reasonably accurately.

Question

Quizplus · Accepted Answer

While all of the options listed are important, the ability of a theory to predict behaviour accurately is likely the most important characteristic of a successful theory. This allows economists to make informed decisions and take appropriate actions based on the predictions of the theory. However, it should be noted that even the most successful theories may not always be accurate, as economic behaviour can be complex and influenced by numerous factors.

Of the Following,which Is the Most Important Characteristic of a Successful