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- Theories of Economic Developmenteconomics-mcqs › theories-of-economic-development
- Published
- 27 May 2019
- Last updated
- 28 May 2026
Which of the following best describes the characteristics of a theory?
Multiple choice question for Theories of Economic Development. Select an option, then review the explanation below.
Explanation
Statement I defines a theory as a systematic explanation of the relationships among economic variables. Statements II and III extend beyond the basic definition, while IV is broader than what a theory typically covers. Therefore, only statement I accurately describes a theory.
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