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The process of observing real-world behavior, developing hypotheses, testing them against facts, then using the results to construct theories is called

A. opportunity cost estimation
B. the scientific method
C. marginal analysis
D. normative analysis

Question 7

Sagot :

GinnyAnsweridn

Final answer:

The scientific method involves observing behavior, developing hypotheses, testing them, and constructing theories, essential in economics.


Explanation:

The process of observing real-world behavior, developing hypotheses, testing them against facts, then using the results to construct theories is called the scientific method. This method is essential in economics for studying data, observing patterns, and predicting outcomes based on stimuli.


Learn more about Scientific method in economics here:

https://brainly.com/question/36140746


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