Methodology Flashcards
1
Q
Why is economics is a social science
A
It uses scientific methods to study society and people rather than scientific phenomena
2
Q
It is difficult to conducts experiments
A
as it is often not practical or ethical
3
Q
Economist can’t exercise the same level of control as a natural scientist
A
they must assume nothing as changed
4
Q
Ceteris Paribus
A
All other things being equal
5
Q
Data may not be perfect
A
might be from a different country with different economics circumstances and must come from an earlier time period
