Economics is regarded as a science because it
...Economics is regarded as a science because it
Studies laws that govern human behaviour
Uses scientific method to explain human behaviour
Makes use of controlled experiments to explain human behaviour
Makes use of machines to study human behaviour
Correct answer is B
Economics is regarded as a science because it uses scientific methods to build theories that can help explain the behaviour of individuals, groups and organisations. Economics attempts to explain economic behaviour, which arises when scarce resources are exchanged.
The dependency ratio of a country is the ...
If the coefficient of price elasticity of supply is greater than one, the supply is said to be ...
Two goods, X and Y, are said to be complementary when? ...
When the demand for foreign exchange exceeds its supply, the value of the domestic currency &n...
Optimum population is desirable because it enables an economy to obtain maximum ...