Positive economics is: a. An investigation or statement that attempts to examine or understand how the world actually operates or how the world is operating. b. An investigation or statement about the norms and culture of other countries. c. An investigation or statement that attempts to describe how the world should be or ought to be. d. An investigation or statement about the positive benefits of a given country.

Q: COVID has badly affected the world economies. Most of the countries are reporting a significant…

A: Economics is the study of how the scarce resources of society are exploited. Economics is a social…

Q: Individuals make trade-offs to a. determine economic values b. cooperate with others c. minimize…

A: Trade off is exchanging something of value. It is kind of relationship between two parties who…

Q: When economists are trying to help improve the world, they are Select one: O a. policy advisors O b.…

A: Economics is a social science that discusses human behavior regarding their unlimited wants in terms…

Q: Why is the ecotourism important for economies? Discuss in terms of sustainable development,…

A: Ecotourism means responsibly travelling to the natural areas in a view to preserve local habitats.…

Q: You’re dreaming of what to do during a nice summer day. You could mow the lawn which you would pay…

A: Opportunity cost is defined as the benefits an individual, business, or investor forgoes when he/she…

Q: Economics is defined as the study of: Select one: O a. central planning b. government regulation c.…

A: Economics have two main branches that are microeconomics and macroeconomics.

Q: Economics is mostly concerned with the best use of resources to improve human lives the study of…

A: Economics as a subject is known to have evolved from the Mauryan dynasty of ancient India, mainly…

Q: Normative economics is:    a. An investigation or statement about the norms and culture of other…

A: The study about the scarce allocation of resources among the people of the society is referred to as…

Q: An economic system: a. must choose pure capitalism to adequately answer the three economic…

A: An economic system is defined by which societies or governments organize and distribute available…

Q: In economics, cost is and benefit is a. the amount of money that you pay for something; the amount…

A: Economists are eager in finding out how the resources are allocated or how optimization of resources…

Q: Which of the following is a normative statement? a. Taking extra vitamin C prevents catching a cold.…

A: Taxes are the amount of money that is charged by the government of the country.

Q: Which of the following statements are positive, and which are normative? i.  If interest rates…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: How do people make decisions, according to economic assumptions? a. They allow others to make…

A: "Economics is the study of use of scarce resources." The scarce resources include land, labor,…

Q: do 2. Suppose that over the next 20 years, the environ- mental and health costs of goods and…

A: The following problem has been answered as follows:

Q: Why do we need to study Economics? 1. ITS FUN 2. IT PROVIDES 3. IT IS UNDERSTANDING USEFUL IN ON HOW…

A: Economics is a part of social science that primarily explains the interaction between people for…

Q: Economics State the basic problems in problems. What does each problem mean?

A: Introduction Economics is the study of how individuals and society decide to make use of scarce…

Q: What is the best test of an economic theory?   a. Whether it produces implications that are…

A: Economic theory: It is a vent for research in the economic areas. these theories are used to solve…

Q: Economics is primarily concerned with the study of:   Production and distribution of goods in a…

A: Economics refers to the investigation of how societies produce and disperse goods and services in a…

Q: A. is a very narrow field of study. B. is a way of analyzing decision-making processes caused by…

A: Economics is concerned with how economic agents get maximum satisfaction from limited resources with…

Q: 1. Which of the following statements is a normative as opposed to a positive economic statement?…

A: Normative statements are value or judgment-based. They are opinions and cannot be factually…

Q: Economics is best defined as the study of how a neonle make desisiona in n rld

A: Mainly, there are two branches of economics. 1. Microeconomics  2. Macroeconomics

Q: Which of the following questions does economics NOT investigate? a. How do individuals deal with…

A: Economics is the social science that study the individual and economic agent behavior in the…

Q: trade-offs

A: a. Trade off describes a psychological situation in which a person gets confused while producing one…

Q: A. INDICATE WHICH OF THE FOLLOWING IS A POSITIVE OR NORMATIVE STATEMENT  I. "Earnings increase with…

A: Introduction;   Since you have asked a question with multiple sub-parts, we will solve first three…

Q: 1. For each of the following statements, determine if it is positive or normative. (a) Seattle is…

A: The given statements are either positive or normative. Positive statements are statements that are…

Q: His study of economics is concerned more with human behavior. a. Alfred Marshall b. Karl Marz c.…

A: The meaning of economics is the management of households. In Ancient Greek, the word Eco means home…

Q: The primary focus of the study of economics is on: a. expanding the production of goods and…

A: Finance is a social science concerned with understanding how people, groups, and countries control…

Q: Economic systems differ according to which two main characteristics? Select one: A. the technology…

A: Economics is a social science that studies how individuals, businesses, governments, and societies…

Q: The statement "government should provide affordable health care coverage for every member of…

A: In economics, we can undertake statements in two manners. One in which they are based on facts and…

Q: Explain what does the author refers to when he says "People Face Trade-offs" - Try to do it in your…

A: The phrase 'People Face Trade-offs' is a fundamental concept in economics. It refers to the idea…

Q: What does a normative statement describe?    A. how the world will be in the future  B. how the…

A: A normative statement is an ideological, prescriptive, and judgmental statement. It sets a standard…

Q: Write TRUE if the statement is right and FALSE if it is wrong:   _____    9. We run into scarcity…

A: The economics is the study about the allocation of limited across the people of the country.…

Q: Q7. Philosophers draw a distinction between positive statements, which describe the world as it is,…

A: Economists are the people who study different economic models and theories.

Q: Which of the following is not included in the decisions that every society must make? a. What…

A: Economic theory affirms that the general public makes three fundamental economic choices because of…

Q: The questions below deals with economics. Provide the answer to the statements below. It's only 3…

A: 1. An assembly line worker and a store clerk are examples of labor Labor is one of the most active…

Q: Which of the following suggests that individuals do not place an infinite value on human life?   (x)…

A: The question is asking us to identify which of the given scenarios suggest that individuals do not…

Q: 6. a term referring to the fact that for many goods, as the level of production increases, the…

A: Answer 6) Option c is the correct answer Economic of Scale  Economies of scale are cost advantages…

Q: True or False?

A: The objective of the question is to determine whether each of the given statements is true or false…

Q: Which of the following assertions is NOT a basic economic assumption? a. People act rationally. b.…

A: Economics is all about assumptions, it is related to production, distribution, scarcity, consumption…

Q: One should evaluate their cultural values by: A. Leaving their hometown to broaden their horizons…

A: Cultural values are necessary for influencing the process of cognitive and neuropsychological…

Q: An economic model are a. uses equations to understand normative economic phenomena. b. often omits…

A: Economic models serve as invaluable tools in comprehending and analyzing complex economic phenomena.…

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.