Which of the following statements has been drawn by inductive method?
A) a consumer will buy from the cheapest market
B) all businessmen wish to buy at low price and sell at high price
C) a private firm will try to maximize its profits
D) the larger the stock of money with a person, the lower is the utility that he
Correct Answer:
Verified
Q8: The fundamental problem faced by an economy
Q9: Production possibilities curve does not show:
A)what to
Q10: State whether Economics is :
A)a positive science
Q11: Who of the following emphasized the normative
Q12: Of the following economists who is considered
Q14: What is true for deductive method?
A)abstract
B)realistic
C)economic conditions
Q15: What is true for inductive method?
A)hypothetical
B)empirical
C)ignores experimentation
D)static
Q16: Find out the correct statement:
A)prediction of economic
Q17: Micro economic theory studies how a free
Q18: Which aspect of taxation involves normative economics?
A)the
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