What are the scientific method that Economists use
What are the scientific method that Economists use to establish theories, laws, and principles?
Expert
The scientific method that Economists use to establish theories, laws, and principles are:
a. The observation of facts (real data).
b. The formulations of explanations of cause and effect relationships (hypotheses) based upon the facts.
c. The testing of the hypotheses.
d. The acceptance, reject, or modification of the hypotheses.
By the perspective of nowadays academic standards, Adam Smith must have more evidently acknowledged that several the analyses and insights for that he took credit within his Wealth of Nations had really been gleaned from the writings
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