Economics is regarded as a science because?

Assessment: WAEC SSCE - Economics - 2017 (Objective) Subject: Economics

Question 1 Report

Economics is regarded as a science because?

Answer Details
Economics is considered a science because it uses scientific methods to study and understand economic behavior and systems. This includes collecting data, analyzing data, forming hypotheses, and testing theories through empirical evidence. By using a systematic and objective approach, economists can make predictions and draw conclusions about the economy and how it functions, which can be verified by reference to facts. Additionally, the subject matter of economics, which is the behavior of individuals and organizations in the market, is also a key factor in its classification as a science.

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