Answer: Economic Theory
Explanation: Economic Theories are principles and ideas aimed at analyzing economic behavior and problems. Economic Theories are product of thorough theoretical research which identifies economic problems, reasons for those problems and ultimately proffers the best possible solution to arrest those problems. Hence economic Theories models economic realities and make real world predictions using this models.
According to the self-serving bias, we tend to attribute our successes to skill and our losses to chance.<span> The self-serving bias is a cognitive bias that causes a person to view their own actions favorably.</span>
<span>Example for self-serving bias is the following: Blaming the tree for getting in your way after you crashed the car .
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Answer: According to the law of demand, price and quantity move along a track in the same direction.
Explanation:
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<span>The XYZ company will be responsible for manufacturing all the glass needed to build the cars.</span>
