I believe the answer is: theory
Theory refers to the initial ideas that is used as an explanation for a certain principle.
Even though technically theory is just a form of guess that initiated before making the experiments, the guess is based on the general principles that accepted by most people in that field and could be changed depending on the available evidence.
Following the financial panic in 1929, the government created the Federal Deposit Insurance Corporation in order to insure bank deposits. It is created by the 1933 Banking Act after the Great Depression. This was to restore the trust of the American's banking system.
In a command economy, the government decides the answers to the three basic questions. It decides what will be made, how they will be made, and who... Economists generally recognize three distinct types of economic system. These are 1) command economies; 2) market economies and 3) traditional economies.
Answer:
it is the process of making and enacting law