A Common Approach That Economists Use to Understand, Explain and Predict

question 238

Multiple Choice

A common approach that economists use to understand, explain and predict economic phenomena is to

• A) form a theory or model.
• B) conduct experiments in a science lab.
• C) ask what people think.
• D) examine people's thought processes.

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Definitions:

Kurt Lewin

A pioneering psychologist known for his field theory in social science, emphasizing that behavior is a result of the individual and their environment.

Good Theory

Represents a logically structured, plausible framework that offers explanations for a set of phenomena, allowing for predictions and understanding.

Dispositional Attribution

Refers to the inclination to ascribe someone's behavior, actions, or outcomes to their internal characteristics or personality rather than to external factors.

Situational Attribution

The process of explaining an individual's behavior based on external factors, such as the environment or the situation, rather than personal characteristics.