Economic theory
A) is a set of definitions, postulates, and principles assembled in a manner that helps make cause-and-effect relationships clear in economics.
B) is like a guidebook in that it points out what to look for.
C) provides economists with a common language and way of thinking about how the world works.
D) is all of the above.

Question

Quizplus · Accepted Answer

Economic theory encompasses definitions, principles, and postulates that clarify cause-and-effect relationships, serves as a guide for analysis, and provides a common framework for economists.

Economic Theory