Of the following,which is the most important characteristic of a successful theory?
A)the theory provides a basis for facts about economic behaviour
B)the theory could never be refuted
C)the theory adequately explains all economic behaviour
D)all assumptions on which the theory is based are true
E)the theory allows us to predict behaviour reasonably accurately

Question

Quizplus · Accepted Answer

The most important characteristic of a successful theory is its ability to make reasonably accurate predictions about economic behavior. The other options, such as the theory being unrefutable or based on true assumptions, are not necessarily possible in the social sciences where there are many variables and unpredictable human behavior. A good theory should be able to explain certain economic behaviors and provide a basis for facts, but its predictive power is the most crucial factor.

Of the Following,which Is the Most Important Characteristic of a Successful