A Theory

question 31

Multiple Choice

A theory

• A)enables one to predict the future with certainty.
• B)is designed to explain and predict what we observe.
• C)is used to impose order on the world.
• D)can only be tested with a controlled experiment.
• E)assumes definitions for variables.

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Definitions:

Terms

Conditions and stipulations under which agreements and contracts are made, outlining the obligations of involved parties.

Mark-up

Additional pricing on goods’ cost aimed to cover running expenses and secure profit.

Cost

The amount of money required to purchase something or the expense incurred to produce something.

Selling Price

The amount for which a good or service is sold to the customer.