An economic researcher devises a theory regarding household saving behavior, gathers empirical data to test its predictions, and subsequently decides whether to support, modify, or reject the theory based on the evidence.
This process is an example of
the formulation of normative policies.
scientific economic methodology.
the application of subjective value judgements.
a purely deductive, non-empirical approach.
123 exam-style questions on AQA A Level Economics 1.1 Economic methodology and the economic problem, covering 1.1.1 Economic methodology, 1.1.2 The nature and purpose of economic activity, 1.1.3 Economic resources, 1.1.4 Scarcity, choice and the allocation of resources, and 1.1.5 Production possibility diagrams. Each one has a worked solution and a mark scheme showing where the marks go.