The scientific method is
A) not applicable to economics because economics deals with human beings.
B) also known as the economic perspective.
C) employed to form hypotheses out of existing laws and theories.
D) used by economists and other social scientists, as well as by physical scientists and life scientists, to formulate and test hypotheses.

Question

Quizplus · Accepted Answer

The scientific method is a commonly used approach by economists and other social scientists, physical scientists, and life scientists to formulate and test hypotheses. It involves making observations, developing a hypothesis, collecting and analyzing data, and drawing conclusions. While the complexity of human behavior can make it difficult to apply the scientific method to economics, it is still a valuable tool for exploring economic phenomena.

The Scientific Method Is