An Explanation Supported by a Reliable Body of Data Is

question 129

Multiple Choice

An explanation supported by a reliable body of data is called a:​

• A)​hypothesis
• B)​law
• C)​theory
• D)​fact

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Definitions:

Supply

The total amount of a specific good or service available to consumers at a given price level.

Input Market

The input market is the marketplace where companies or individuals procure resources, such as raw materials, labor, and services, needed to produce goods or offer services.

Demand Curve

A graph showing how the demand for a commodity or service varies with changes in its price.

Individual Producer

Describes a single entity or person that creates goods or services, typically operating within a larger market framework.