A Method of Developing Knowledge Based on the Evaluation of Evidence

question 35

Multiple Choice

A method of developing knowledge based on the evaluation of evidence from experiments and careful observation is called the ______ approach.

• A)intuitive
• B)statistical
• C)empirical
• D)theoretical
• E)eclectic

---

Definitions:

Fewer Inputs

Utilizing a smaller amount of resources or factors of production to achieve a particular output.

Specialization

A process wherein individuals or businesses focus on producing a limited range of goods or services to gain greater efficiency and productivity.

Trade

The swapping of goods, services, or both among two or more entities.

Opportunity Cost

The loss incurred from potential opportunities when one choice is made over others.