Exploring the Scientific Nature of Economics
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Questions and Answers

Which of the following is NOT a characteristic of a science?

  • It involves the pursuit of knowledge.
  • It uses the scientific method.
  • It deals with efficient allocation of scarce resources. (correct)
  • It is a systematic body of knowledge.

    • What is the purpose of an experiment in the scientific method?

  • To record data obtained from the experiment.
  • To test a hypothesis. (correct)
  • To decide if the hypothesis was correct.
  • To gain information about the problem.

    • What is the definition of social science according to UK Research and Innovation?

  • A systematic body of knowledge.
  • A science that deals with efficient allocation of scarce resources.
  • A science that involves a pursuit of knowledge covering general truths or the operations of fundamental laws.
  • The study of society and the manner in which people behave and influence the world around us. (correct)

    • According to Robbins, what is the focus of economics as a social science?

    <p>Dealing with efficient allocation of scarce resources and unlimited demand.</p> Signup and view all the answers

    What is the purpose of a conclusion in the scientific method?

    <p>To decide if the hypothesis was correct or if further observation and testing is needed.</p> Signup and view all the answers

    Which of the following is NOT a step in the scientific method?

    <p>Observation</p> Signup and view all the answers

    What is the main focus of economics as a social science according to Robbins?

    <p>Efficient allocation of scarce resources</p> Signup and view all the answers

    What is the purpose of the hypothesis in the scientific method?

    <p>To guess what will happen and determine a way to test it</p> Signup and view all the answers

    What is the purpose of an experiment in the scientific method?

    <p>To decide if the hypothesis was correct or incorrect</p> Signup and view all the answers

    What is the definition of social science according to UK Research and Innovation?

    <p>The study of society and the manner in which people behave and influence the world around us</p> Signup and view all the answers

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