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

Question

Quizplus · Accepted Answer

While it would be ideal for all assumptions to be true and for a theory to explain all economic behavior, these are often unrealistic expectations. The most important characteristic of a successful theory is its ability to predict behavior reasonably accurately. This allows economists to use the theory to make informed decisions and develop policies.

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