What is the name of economic statements that are based on facts and can be proved or rejected based on the scientific method?

A statement of explanation based on initial evidence, which may be proved or disproved, is called a(n) ______.hypothesismarketing research objectivesampleassessment

An unproven statement, based on observations is called a _________________________.

An irrefutable statement may be called a hypothesisa.Falseb.True

Suppose you are the owner of a luxury watch brand. You notice that your sales have been declining for the last two months. You know that there are other competitors who have priced their products lower. You form a hypothesis that the cause of lower sales is the low-priced products of competitors. Therefore, you lower the prices of your products. However, after another month, your sales still haven’t increased. What is this kind of hypothesis called?

a systematic process of objectively obtaining and evaluating evidence regarding assertions about economic actions and events