Question
An economic theory is a/an
Answer: Option B
Answer: (b)
A theory is an established explanation that accounts for known facts or phenomena.
Specifically, economic theories ate statements or propositions about patterns of economic behaviour under certain circumstances.
These theories help us sort out and understand the complexities of economic behaviour (Exploring Economics by Robert L. Sexton, p 9).
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Answer: (b)
A theory is an established explanation that accounts for known facts or phenomena.
Specifically, economic theories ate statements or propositions about patterns of economic behaviour under certain circumstances.
These theories help us sort out and understand the complexities of economic behaviour (Exploring Economics by Robert L. Sexton, p 9).
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