A useful theory must
A) Apply to every conceivable situation
B) Be broadly applicable and specific in its implications
C) Be agreed upon by all economists
D) Not be able to be refined

Question

Quizplus · Accepted Answer

A useful theory should be able to provide broad and generalizable insights, but also have specific implications for real-world situations. It is not necessary for the theory to apply to every conceivable situation. Agreement by all economists is also not necessary, and theories should be subject to refinement through ongoing research and testing.

A Useful Theory Must