The use of theory and observation is more difficult in economics than in sciences such as physics due to the difficulty in
A)performing an experiment in an economic system.
B)applying mathematical methods to economic analysis.
C)analyzing available data.
D)formulating theories about economic events.

Question

Quizplus · Accepted Answer

It is difficult to perform experiments in economic systems due to a lack of controlled environments. Economists must rely on observational data and statistical analysis to formulate and test their theories. While mathematics is important in economic analysis, it is not the main reason for the difficulty in using theory and observation in economics. Analyzing available data and formulating theories are also important components of economic analysis, but the lack of experimental control is the most significant challenge.

The Use of Theory and Observation Is More Difficult in Economics