Which of the Following Is NOT a Characteristic of a Good

question 20

Multiple Choice

Which of the following is NOT a characteristic of a good theory?

• A) Account for new data, regardless of accounting for existing data
• B) Provide a relevant explanation with logical reasons
• C) Have the ability to be tested
• D) Predict new and novel events

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Definitions:

Normal Good

A good for which demand increases as consumer income rises and decreases when consumer income falls.

Substitute

A good or service that can be used in place of another to satisfy consumer needs or wants.

Dr. Pepper

A brand of carbonated soft drink created in the United States and well-known for its unique flavor.

Law Of Demand

The negative relationship between price and quantity demanded: Ceteris paribus, as price rises, quantity demanded decreases; as price falls, quantity demanded increases.