Why is economics called an empirical science?
A)because economics has been used to both create and destroy empires
B)because economics uses impressions to evaluate the usefulness of its models
C)because economics relies on real-world data to determine the usefulness of a model
D)because economics utilizes intuition rather than data to evaluate a model's worth

Question

Quizplus · Accepted Answer

Economics is called an empirical science because it relies on real-world data to determine the usefulness of models. It is a science that is based on evidence and observations, rather than solely on theories or intuition.

Why Is Economics Called an Empirical Science