The Fundamental Characteristic of the Scientific Approach Is

question 12

Multiple Choice

The fundamental characteristic of the scientific approach is:

• A)intuition.
• B)authority.
• C)falsifiability.
• D)empiricism.

---

Definitions:

Innovation

Innovation is the process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Economic Profits

Profits in excess of what is considered normal or expected, considering both explicit and implicit costs.

Five Fundamental Questions

Key questions in economics that address what to produce, how to produce, for whom to produce, when to produce, and where to produce goods and services.

Central Bank

The national financial institution that oversees the monetary system of a country, controlling interest rates and currency supply.