How Does Science Obtain Knowledge About the World

question 16

Multiple Choice

How does science obtain knowledge about the world?

• A)By an interactive process of experimentation, which refines hypotheses until they are finally proven to be the absolute truth.
• B)By relying on scientific authorities and the massive amount of knowledge already obtained to explain new data.
• C)By systematically gathering evidence and discarding potential explanations that do not fit the evidence, and refining those that do fit the evidence.
• D)By conducting experiments designed to support hypotheses as being correct beyond reasonable doubt.

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Definitions:

Profit-Maximizing

A strategy where a firm adjusts production and sale levels to generate the highest profit possible.

Market Structure

The organization and characteristics of a market, including the level of competition, number of producers, and type of products.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.

Elastic

Describes the responsiveness of demand or supply to changes in price or income.