How Does a Theory Differ from a Fact

question 6

Multiple Choice

How does a theory differ from a fact?

• A) A theory proves how different influences affect a particular phenomenon.
• B) A theory attempts to explain and give some logical order to observations.
• C) A theory is a collection of facts about a particular phenomenon.
• D) A theory shows a relationship among facts about a particular phenomenon.

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Definitions:

Substitutes

Goods or services that can be used in place of each other, having the ability to satisfy similar consumer needs or desires.

Complements

Goods or services that are used together, where an increase in demand for one leads to an increase in demand for the other.

MRC

Marginal Revenue Cost, an economics term referring to the cost added by producing one additional unit of a product or service.

Technological Innovations

The introduction of new technologies or methods that improve products, processes, or services, often contributing to increased efficiency or value.