What is meant by the term “scientific method”? What are the key compon

What is meant by the term “scientific method”? What are the key components of the scientific method?

What will be an ideal response?

ANSWER

The scientific method is the name for the ongoing process that economists, social scientists, and natural scientists use to develop models of the world and test those models with data. The key components of the scientific method are:
a) Models: A simplified description, or representation, of reality.
b) Data: Facts, measurements, or statistics that describe the world.
c) Empirical evidence: A set of facts established by observation and measurement.
d) Hypothesis: Predictions that can be tested with data.