A Theory Can Best Be Defined as

question 228

Multiple Choice

A theory can best be defined as

• A)an untested assertion of untested fact.
• B)a collection of assumptions that simplify the real world.
• C)an opinion of a reliable person who studies a subject or discipline.
• D)a deliberate simplification of factual relationships that attempts to explain how those relationships work.
• E)the body of knowledge that has been scientifically verified by the scientific community.

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Definitions:

Doll Houses

Miniature houses designed for children to play with, often replicating the structure and furnishings of a full-size house.

Labor Cost

The total expenditures for wages, benefits, and payroll taxes that employers incur in compensation for the work performed by their employees.

Derived Demand

The demand for a resource; it stems from the demand for the final good the resource helps produce.

Input Demand

The requirement for resources and materials necessary to produce goods and services.