A set of ideas about the economy that have been organized in a logical framework is called
A)empirical analysis.
B)a methodology.
C)economic theory.
D)data development.

Question

Quizplus · Accepted Answer

Economic theory refers to a systematic set of ideas and concepts used to explain and understand economic phenomena. It is organized in a logical framework and helps to study the behavior of individuals, firms, and the overall economy. Empirical analysis, methodology, and data development are all important components of economic research, but they are not synonymous with economic theory.

A Set of Ideas About the Economy That Have Been