below is my question

Question

As a social science, economics is concerned with the scientific method. Thinking about a policy intervention, such as lockdown income support packages, can you explain how the scientific method can be used to assess their validity for businesses in lockdown affected areas?

Answer 1

Lockdowns are a relatively new factor in the economic environment, which makes them immune to conventional business environment analysis tools such as SWOT and PESTEL analysis. The scientific method informs scientific theories supported by observations. A scientific theory cannot be proven, but it can be supported/strengthened or disproven. In this case, we would need to constantly monitor the seepage of the income support packages into the businesses in lockdown areas. The scientific method is applicable through the collection of quantitative data from the clients of such businesses using surveys, and interviews to ascertain their sources of income. The analysis of such data would determine the validity of the income support packages to the businesses based on the packages' seepage rate into the businesses space.