A Good Economic Theory

question 102

Multiple Choice

A good economic theory

• A)has realistic assumptions
• B)contains as much detail as possible
• C)cannot be proven false
• D)predicts well
• E)can only be presented in mathematical terms

---

Definitions:

Defect Free

A state or condition where a product, service, or process is free of flaws, errors, or deficiencies, meeting all specified requirements.

Six Sigma

A methodological approach aimed at improving processes by identifying and eliminating defects.

Remove Variability

The process of minimizing differences in processes or products to ensure consistency and reliability.

Need To Know

A principle limiting access to information to individuals whose knowledge of that information is necessary for them to perform their duties.