Explain Why It Is More Difficult to Determine Causality in Economics

question 25

Essay

Explain why it is more difficult to determine causality in economics than in other sciences such as physics, chemistry, and biology.

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Definitions:

Global North

A term used to refer to the wealthier, industrialized countries located primarily in the Northern Hemisphere, contrasted with the less-developed Global South.

Global South

denotes countries primarily situated in the Southern Hemisphere, often associated with lower economic development compared to the Global North.

Developing Countries

Nations with lower levels of industrialization, lower income per capita, and generally lower standards of living compared to more industrialized countries.

Southern Hemisphere

The half of Earth that lies south of the equator, known for having opposite seasons to the Northern Hemisphere.