One Reason Economists Have Difficulty Applying the Scientific Method Is

question 54

Multiple Choice

One reason economists have difficulty applying the scientific method is because:

• A) economic conditions are constant.
• B) controlled laboratory experiments are often infeasible and sometimes impossible.
• C) people are involved,and their behavior is entirely unpredictable.
• D) the scientific method does not apply to economics.

---

Definitions:

Business Analysis

The practice of identifying business needs and determining solutions to business problems.

Product Development

The process of bringing a new product from concept to market, involving idea generation, design, development, and commercialization stages.

Demand

The desire or need for goods and services by consumers at a given price point and time.

Concept Test

A procedure in which marketing professionals ask consumers for their reactions to verbal descriptions and rough visual models of a potential product.