Scientists start an investigation with by________________?
Correct answer: A. selecting and defining a topic
- A. selecting and defining a topic
- B. verifying a hypothesis
- C. analyzing data
- D. replicating an experiment
Explanation
An investigation begins by selecting a research topic and defining its scope and question. Hypothesis testing, data analysis and replication occur later in the research process.
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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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