A Common Approach That Economists Use to Understand, Explain and Predict

question 238

Multiple Choice

A common approach that economists use to understand, explain and predict economic phenomena is to

• A) form a theory or model.
• B) conduct experiments in a science lab.
• C) ask what people think.
• D) examine people's thought processes.

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Definitions:

Carrying Capacity

Maximum number of individuals of a species that a particular environment can sustain; can change over time.

Births

The act or process of giving birth, marking the emergence of a new individual from the mother's body.

Deaths

The termination of all biological functions that sustain a living organism, marking the end of its life.

Added To Population

The process or event of introducing new individuals to an existing group or biological population, thereby altering its size or genetic composition.