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
Q5: The fundamental problem faced by an economy
Q6: Production possibilities curve does not show:
A)What to
Q7: State whether Economics is :
A)A positive science
Q8: Who of the following emphasized the normative
Q9: Of the following economists who is considered
Q11: What is true for deductive method?
A)Abstract
B)Realistic
C)Economic conditions
Q12: What is true for inductive method?
A)Hypothetical
B)Empirical
C)Ignores experimentation
D)Static
Q13: Find out the correct statement:
A)Prediction of economic
Q14: Micro economic theory studies how a free
Q15: Which aspect of taxation involves normative economics?
A)The
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