Asked by
Nazareth Lacayo
on Nov 17, 2024Verified
While the scientific method is applicable to studying natural sciences, it is not applicable to studying a nation's economy.
Scientific Method
A systematic approach to research where a problem is identified, relevant data is gathered, a hypothesis is formulated, and then the hypothesis is empirically tested.
Natural Sciences
Branches of science that study the physical world, its phenomena, and processes, including biology, chemistry, physics, and earth sciences.
Nation's Economy
The overarching system of production, consumption, and exchange of goods and services within a country's borders.
- Acknowledge the application of the scientific method in economics.
Verified Answer
KM
Learning Objectives
- Acknowledge the application of the scientific method in economics.