Economic theory allows economists to predict the behavior of a specific person or firm.

Name: Economic theory allows economists to predict the behavior of a specific person or firm.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Economic theory provides models and frameworks for understanding and analyzing economic behavior, but it cannot predict the behavior of a specific person or firm with complete accuracy as each individual and firm has unique characteristics and circumstances that can affect their decision-making.

Economic Theory Allows Economists to Predict the Behavior of a Specific