Indian Export Import Data-a historical view. 1  1. 2  Indian Export Import Data-a historical view Summary: With time the growth of the economy was spurred more during liberalization of the economy than during any other period. 1. 2  Indian Export Import Data-a historical view Summary: With time the growth of the economy was spurred more during liberalization of the economy than during any other period.
1 Law: A descriptive generalization about how some aspect of the natural world behaves under stated circumstances.  Theory: In science, a well-substantiated explanation of some aspect of the natural world that can incorporate facts, laws, inferences, and tested hypotheses.
The term theory is used with surprising frequency in everyday language. It is often used in to mean a guess, hunch, or supposition. It is important to note as you study psychology and other scientific topics, that a theory in science is not the same as the colloquial use of the term. A theory is a based upon a hypothesis and backed by evidence. A theory presents a concept or idea that is testable. In science, a theory is not merely a guess. A theory is a fact-based framework for describing a phenomenon. In psychology, theories are used to provide a model for understanding human thoughts, emotions, and behaviors. A psychological theory has two key components: It must describe a behavior.