What Does It Mean to Say Economics Is an Empirical

question 106

Essay

What does it mean to say economics is an empirical science, and how is this related to the question of deciding on the usefulness of a model?

---

Definitions:

Social Anxiety

A chronic mental health condition characterized by significant anxiety or fear of being judged, negatively evaluated, or rejected in a social or performance situation.

Physiological Symptoms

Physical signs or reactions that can occur in response to psychological or emotional stress, illness, or other factors.

Social Anxiety

A condition characterized by intense fear and avoidance of social situations, due to feelings of embarrassment, scrutiny, and concern about being judged negatively by others.

Introversion

A personality trait characterized by a focus on internal feelings rather than external sources of stimulation.