Question

9. Why Economic laws are hypothetical? Give reason.

Answer 1

Answer:

Seligman characterized economic laws as “essentially hypothetical”, because they assume 'other things being equal' and draw conclusions from certain hypotheses. Despite this, economic laws are less certain like the laws of social sciences because the value of money does not always remain constant.

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Answer 2

ANSWER:

Prof. Seligman characterised economic laws as “essentially hypothetical”, because they assume 'other things being equal' and draw conclusions from certain hypotheses. Despite this, economic laws are less certain like the laws of social sciences because the value of money does not always remain constant.

EXPLANATION:

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