Every hypothesis must ?
Correct answer: A. predict a relationship between two factors
- A. predict a relationship between two factors
- B. be general
- C. be based on scientific theory
- D. predict a causal relationship
Explanation
A hypothesis proposes a testable relationship between two or more factors. It need not claim that one factor causes the other, so causal relationship is too restrictive.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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