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3 March, 16:57

Why is there so much emphasis on exact definitions in economics?

A) Because economists are very picky people.

B) Because economics is a science and must be precise.

C) Because definitions are what economics is all about.

D) Because the government demands it.

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Answers (1)
  1. 3 March, 19:31
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    The correct answer is B.

    Economics, like any other science, must be precise because any error can have repercussions on a large scale.

    A and C are incorrect because they are generalized statements.

    D is incorrect because the government is not solely responsible for economics, just as it's not solely responsible for chemistry or biology.
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