Explain the reasons why no theory perfectly describes the reality.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 21, Problem 1VQP

To determine

Explain the reasons why no theory perfectly describes the reality.

Expert Solution & Answer

Explanation of Solution

No theory cannot perfectly describe the reality because the main job of a theory is to find why the things in a society are like this or gone like this manner etc. Theory is only a group of principles that lead the real activities in a smooth manner. For example: according to the theory of trade, it explains what it is. But it did not say that how it done by every country. In building a theory, some variables are necessary to be omitted.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

If you are willing to pay up to $8 for your first cup of coffee the blank of your first cup of coffee is $8

not use ai please

(Figure: Good Y and Good X) Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change? Quantity of good Y 18 16 14 Budget constraint 2 12- 10 8 Budget constraint 1 6 4 2 0 2 4 6 8 10 12 14 16 18 20 Quantity of good X an increase in income and an decrease in the price of good X relative to that of good Y a decrease in income an decrease in the price of good X and no change in the price of Y a decrease in income and an increase in the price of good X relative to that of good Y an increase in income a decrease in the price of good X relative to that of good Y

Answer 2

Question

Chapter 21, Problem 1VQP

To determine

Explain the reasons why no theory perfectly describes the reality.

Expert Solution & Answer

Explanation of Solution

No theory cannot perfectly describe the reality because the main job of a theory is to find why the things in a society are like this or gone like this manner etc. Theory is only a group of principles that lead the real activities in a smooth manner. For example: according to the theory of trade, it explains what it is. But it did not say that how it done by every country. In building a theory, some variables are necessary to be omitted.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 21, Problem 1VQP

To determine

Explain the reasons why no theory perfectly describes the reality.

Expert Solution & Answer

Explanation of Solution

No theory cannot perfectly describe the reality because the main job of a theory is to find why the things in a society are like this or gone like this manner etc. Theory is only a group of principles that lead the real activities in a smooth manner. For example: according to the theory of trade, it explains what it is. But it did not say that how it done by every country. In building a theory, some variables are necessary to be omitted.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 21, Problem 1VQP

To determine

Explain the reasons why no theory perfectly describes the reality.

Expert Solution & Answer

Explanation of Solution

No theory cannot perfectly describe the reality because the main job of a theory is to find why the things in a society are like this or gone like this manner etc. Theory is only a group of principles that lead the real activities in a smooth manner. For example: according to the theory of trade, it explains what it is. But it did not say that how it done by every country. In building a theory, some variables are necessary to be omitted.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 21, Problem 1VQP

To determine

Explain the reasons why no theory perfectly describes the reality.

Expert Solution & Answer

Explanation of Solution

No theory cannot perfectly describe the reality because the main job of a theory is to find why the things in a society are like this or gone like this manner etc. Theory is only a group of principles that lead the real activities in a smooth manner. For example: according to the theory of trade, it explains what it is. But it did not say that how it done by every country. In building a theory, some variables are necessary to be omitted.

Answer 6

Chapter 21, Problem 1VQP

To determine

Explain the reasons why no theory perfectly describes the reality.

Expert Solution & Answer

Explanation of Solution

No theory cannot perfectly describe the reality because the main job of a theory is to find why the things in a society are like this or gone like this manner etc. Theory is only a group of principles that lead the real activities in a smooth manner. For example: according to the theory of trade, it explains what it is. But it did not say that how it done by every country. In building a theory, some variables are necessary to be omitted.

Answer 7

Chapter 21, Problem 1VQP

To determine

Explain the reasons why no theory perfectly describes the reality.

Answer 8

Expert Solution & Answer

Explanation of Solution

No theory cannot perfectly describe the reality because the main job of a theory is to find why the things in a society are like this or gone like this manner etc. Theory is only a group of principles that lead the real activities in a smooth manner. For example: according to the theory of trade, it explains what it is. But it did not say that how it done by every country. In building a theory, some variables are necessary to be omitted.