grade 9 economics

What is economics primarily concerned with?

• Investigating historical events

• Studying human behavior

• Exploring outer space

• Analyzing plant life

Why is economics considered a social science?

• For its emphasis on chemical reactions

• Because it studies human behavior in economic contexts

• As it deals with abstract mathematical concepts

• Due to its focus on physical phenomena

What is positive economics focused on?

• Analyzing philosophical theories

• Exploring hypothetical scenarios

• Studying real-life economic issues as they are

• Finding solutions to economic problems

Which method of economic investigation involves assuming factual information and logical reasoning?

• Deductive method

• Inductive method

• Observational method

• Experimental method

What is a key characteristic of the deductive method in economics?

• It moves from general facts to particular assumptions

• It involves guesswork without logical reasoning

• It relies solely on imagination

• It is based on real-life experiments

What is a disadvantage of the deductive method in economics?

• It requires extensive experimentation

• It is based on real-life observations

• It is highly accurate and precise

• It is assumption-based and can lead to invalid solutions

What is the main focus of the inductive method in economics?

• Statistical analysis and experimentation

• Logical reasoning and assumptions

• Imaginative solutions to problems

• Observational studies and surveys

What is a merit of the inductive method in economics?

• It provides universal laws and theories

• It requires minimal data for analysis

• It is descriptive and practical

• It is based on pure imagination

What is a demerit of the inductive method in economics?

• It requires balanced judgement for effectiveness

• It is based on logical reasoning

• It is a complete method on its own

• It is verifiable and deals with quantities

What is the purpose of the deductive method in economics?

• To gather experimental data

• To avoid logical reasoning

• To move from general facts to specific conclusions

• To rely solely on real-life observations