A common approach that economists use to understand, explain and predict economic phenomena is to__. A) ask what people think B) conduct experiments in a science lab C) form a theory or model D) examine people's thought processes

Question

Social Studies

Martin Weiss

3 July, 06:39

A common approach that economists use to understand, explain and predict economic phenomena is to__. A) ask what people think B) conduct experiments in a science lab C) form a theory or model D) examine people's thought processes

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Answers (1)

Know the Answer?

Maxwell Mclean · Answer 1

C) form a theory or model

Explanation:

The occultists are social scientists who study economic phenomena and human relations within the economic spectrum. To understand what governs economics, economists create models and theories that give insights into predicting the behavior of reality and use tools to transform it. As tools of analysis, economists use statistics, mathematics, economic policies.