The development of an economic hypothesis through intuition,…

Source: JAMB · 2023

The development of an economic hypothesis through intuition, insight, or logic is associated with

  1. Induction
  2. Deduction ✓
  3. Policy economics
  4. Normative economics
Explanation

This answer correctly explains the economic concept. Economics studies how people make choices about limited resources.

The other options describe different economic ideas or situations. They don’t fit what this question asks.

Remember this economic principle when thinking about money, trade, and how markets work.

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