Quiz 1.3 - ECONOMICS AS A SCIENCE

Economics is regarded as a science because:

It deals only with physical sciences

Correct Incorrect Correct answer

It studies human wants that are unlimited

Correct Incorrect Correct answer

It adopts systematic methods of investigation

Correct Incorrect Correct answer

It is concerned with money only

Correct Incorrect Correct answer

Which branch of science is economics most closely related to?

Natural science

Correct Incorrect Correct answer

Physical science

Correct Incorrect Correct answer

Social science

Correct Incorrect Correct answer

Biological science

Correct Incorrect Correct answer

Economics is called a positive science because it:

Explains 'what is' rather than 'what ought to be'

Correct Incorrect Correct answer

Makes moral judgments

Correct Incorrect Correct answer

Deals only with statistics

Correct Incorrect Correct answer

Cannot be verified

Correct Incorrect Correct answer

Economics is considered a normative science because it:

Deals with facts only

Correct Incorrect Correct answer

Describes 'what is'

Correct Incorrect Correct answer

Prescribes 'what ought to be'

Correct Incorrect Correct answer

Cannot predict human behavior

Correct Incorrect Correct answer

Which of the following best explains why economics is a science?

It predicts the future with absolute certainty

Correct Incorrect Correct answer

It uses observation, classification, and reasoning like other sciences

Correct Incorrect Correct answer

It only studies natural phenomena

Correct Incorrect Correct answer

It ignores human behavior

Correct Incorrect Correct answer

In economics, the scientific method involves:

Guessing and assuming

Correct Incorrect Correct answer

Systematic observation, hypothesis, and testing

Correct Incorrect Correct answer

Only collecting data without analysis

Correct Incorrect Correct answer

Relying on intuition

Correct Incorrect Correct answer

Economics cannot be regarded as a pure science because:

It studies social behavior influenced by human will

Correct Incorrect Correct answer

It uses mathematics extensively

Correct Incorrect Correct answer

It involves laboratory experiments

Correct Incorrect Correct answer

It deals with scarce resources

Correct Incorrect Correct answer

The statement ‘An increase in price reduces the quantity demanded’ is an example of economics as:

A normative science

Correct Incorrect Correct answer

An art

Correct Incorrect Correct answer

A positive science

Correct Incorrect Correct answer

A moral science

Correct Incorrect Correct answer

The statement ‘Government should control inflation to protect the poor’ is an example of economics as:

A positive science

Correct Incorrect Correct answer

A normative science

Correct Incorrect Correct answer

A natural science

Correct Incorrect Correct answer

A factual science

Correct Incorrect Correct answer

Economics is often described as both a science and an art because it:

Combines theory with practical application

Correct Incorrect Correct answer

Deals with physical goods only

Correct Incorrect Correct answer

Has no systematic approach

Correct Incorrect Correct answer

Studies nature

Correct Incorrect Correct answer

Quiz 1.3 – ECONOMICS AS A SCIENCE

Quiz 1.3 – ECONOMICS AS A SCIENCE

ola September 16, 2025

Quiz Summary

Information

Results

Results

Categories

1. Question

2. Question

3. Question

4. Question

5. Question

6. Question

7. Question

8. Question

9. Question

10. Question