Asked by Jasmine Jackson on Jun 14, 2024
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Positive economics is an approach to economics that
A) seeks to understand behavior and the operation of systems while making judgments about their usefulness to society.
B) analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe preferred courses of action.
C) seeks to understand behavior and the operation of systems without making judgments.
D) examines the role of government in the economy.
Positive Economics
A branch of economics that focuses on describing and explaining the economic world as it is, not as it should be.
Operation of Systems
The process of managing and executing the functions and activities of interconnected and interdependent components to achieve specified goals.
Economic Behavior
The study of how individuals, institutions, and societies make decisions under constraints of resources, including analysis of market and non-market behaviors.
- Separate the principles of positive from normative economics and assess their importance in economic analysis and the recommendation of policies.
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Learning Objectives
- Separate the principles of positive from normative economics and assess their importance in economic analysis and the recommendation of policies.
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