ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Scientific decision-making can be defined as the scientific process of making decisions based on evidence and data by adopting a systematic approach, instead of decisions based on intuition or trial-and-error.

Detailed explanation-2: -The broad goals of science are to understand natural phenomena and to explain how they may be changing over time. To achieve those goals, scientists undertake investigations that are based on information, inferences, and conclusions developed through a systematic application of logic, usually of the inductive sort.

Detailed explanation-3: -To study the natural world, scientists use methods that are empirical, which means that they are grounded in observations and experimentation and are not based on opinions or feelings. Scientific inquiry refers to activities and practices involving scientists’ pursuit of knowledge.

Detailed explanation-4: -The scientific method is the process of objectively establishing facts through testing and experimentation. The basic process involves making an observation, forming a hypothesis, making a prediction, conducting an experiment and finally analyzing the results.