Asked by Radhika Singh on Jul 08, 2024
Verified
To evaluate the potential impact of introducing the hybrid Prius auto into the U.S. market, Toyota Motor Corporation would use:
A) positive economic analysis.
B) normative economic analysis.
C) negative economic analysis.
D) forensic analysis.
Economic Analysis
The systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints.
Hybrid Prius Auto
A hybrid electric vehicle model manufactured by Toyota, known for its fuel efficiency and environmental friendliness.
U.S. Market
Refers to the economic marketplace or system of exchange within the United States, encompassing activities such as buying, selling, production, and consumption.
- Differentiate between positive and normative economic analysis.
Verified Answer
Learning Objectives
- Differentiate between positive and normative economic analysis.
Related questions
Which of the Following Statements Is False? an Economic Analysis ...
Refer to Scenario 1 ...
The Government Should Extend the Duration of Unemployment Benefits to ...
Better Insurance Benefits Increase the Incentive of Some Individuals to ...
There Is Great Concern Over the Idea That Citizens Should ...