Economic theory is a necessity,not a luxury.This statement is t because theory

Question

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Economic theory provides a framework for organizing and analyzing data, which enables economists to make sense of the complexities of the economy. It helps to identify key variables, relationships between them, and the possible outcomes of different policies. While economic theory is not a substitute for data, it helps to guide the collection and interpretation of data. Economic theory does not always lead to practical and useful policy, prevent depressions, or provide accurate predictions, but it is a necessity for understanding how the economy works.

Economic Theory Is a Necessity,not a Luxury