Final answer:
The scientific method is used by economists and other social scientists, as well as by physical scientists and life scientists, to formulate and test hypotheses.
Step-by-step explanation:
The scientific method is a method of research with defined steps that include experiments and careful observation. One of the most important aspects of this method is the testing of hypotheses. A hypothesis is a suggested explanation for an event, which can be tested. The scientific method is used by economists and other social scientists, as well as by physical scientists and life scientists, to formulate and test hypotheses.