Incorrect Economics Is the Study of the Choices We Make

Incorrect. Economics is the study of the choices we make among our many wants and desires given our limited resources.

A) typically uses controlled experiments to learn about consumer and firm behavior.
B) uses models that cannot be tested empirically because of the complex nature of the economy.
C) explores how choices are made between conflicting wants and desires in a world of scarcity.
D) relies entirely on normative analysis to validate all hypotheses.
E) relies entirely on empirical analysis to validate all hypotheses.