1.1.1-1.1.2 Economics as a social science; positive and normative statements: แบบฝึกหัด

• a.

  Economists cannot construct mathematical or theoretical models

• b.

  Economic data cannot be quantified or represented numerically

• c.

  Human behaviour is variable and other external factors cannot easily be held constant in a controlled environment

• d.

  Normative statements prevent the objective testing of any economic hypotheses

• a.Economic theories are based on mathematical models rather than empirical observation.
• b.Economists cannot conduct controlled laboratory experiments where all variables are kept constant.
• c.Economics does not use the scientific method to test hypotheses or build models.
• d.Human behavior is entirely predictable and follows universal laws like gravity.

• a.

  Economic hypotheses cannot be formulated mathematically, whereas natural sciences rely exclusively on quantitative and mathematical laws

• b.

  Natural scientists do not make simplifying assumptions when building models, whereas economists must make assumptions about human rationality

• c.

  It is generally not feasible to conduct controlled laboratory experiments holding all other variables constant, requiring economists to rely on the ceteris paribus assumption and empirical observation

• d.

  Economic models are entirely normative and subjective, meaning they cannot be tested against real-world data or empirical observations

• a.It ensures that all consumers and firms always act with perfect rationality in every model.
• b.Economists cannot isolate variables in the real world, so they must assume other factors remain constant to build models.
• c.It allows economists to conduct controlled laboratory experiments to prove their theories.
• d.It provides a mathematical proof that economic models are always accurate in predicting future trends.

• a.

  The inability to conduct controlled laboratory experiments where all variables except one are held constant.

• b.

  The total absence of empirical data, which forces economists to rely solely on normative value judgements.

• c.

  The fact that economic models are simplified representations of reality and therefore cannot be expressed mathematically.

• d.

  The reliance on the ceteris paribus assumption, which is never used in the physical or natural sciences.

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