Scientific research relates to________________?
Correct answer: D. all of the above
- A. controlled inquiry
- B. relationships among variables
- C. consideration of independent and dependent variables
- D. all of the above
Explanation
Scientific research uses controlled inquiry to examine relationships among variables, including how independent variables affect dependent variables. Therefore, all three descriptions apply.
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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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