HW

Due to the problem with using the scientific method in economics, economists make extensive use of _____________ to control variables.

assumptions

The economic resource produced by man using other resources is known as ___________.

capital

The phrase "other things (variables) equal or unchanged", referred to by economists as _____________, means one variable causes another to change because all other variables are constant, fixed or frozen,

ceteris paribus

A change in the _____________ variable ... ...causes a change in the ___________variable.

independent dependent

A problem in using the scientific method in economics to develop theories is that a controlled _______________ can not be conducted liked those in chemistry and physics.

lab experiment

Animals such as a mule used in farming, water and crude oil are part of the economic resource __________ ...... because they are found in __________.

land nature

An extensively tested explanation of an event that is accepted as fact is known as a __________, ...... while a ___________ is an educated initial explanation ...... and a __________ is a well tested explanation, but not to the extent of being accepted as fact or true.

law or principle hypothesis theory

A ________ of change observed between two variables... ... indicates that there is a ____________ between the two variables, ... ... but does not necessarily indicate that ___________ exists between the two variables, ...... since ____________ may be influencing the change in the two observed variables.

pattern correlation causation outside variables

The __________ ___________ is used to identify and explain events that occur in our surroundings ... ... by making ______________ of events and their circumstances.

scientific method observations

Economics is a _________ science like psychology, archaeology and sociology because it studies the behavior of people.

social