Step one in the scientific method to study economic problems is to:
A) formulate a hypothesis.
B) reflect an opinion.
C) specify assumptions.
D) define relevant variables.
E) test a hypothesis.

Question

Quizplus · Accepted Answer

The first step in the scientific method to study economic problems is to define the relevant variables involved in the study. This helps in identifying the specific aspect of the problem that needs to be studied and analyzed. Once the variables are identified, the researcher can move on to formulating a hypothesis, specifying assumptions, and testing hypotheses.

Step One in the Scientific Method to Study Economic Problems