Exaplain the difference between normative and positive economics. Give examples of normative and positive statements related to environmental goods and services?

Q: To become an agricultural economist, is it more important to know agriculture or to know economic…

A: Agriculture was a central factor in the emergence of physically active human civilisation, when…

Q: Explain why economics is so cool

A: Economics is a study of human behavior that helps to understand how individuals satisfy their…

Q: Which of the following statements are positive, and which are normative? a. The minimum wage creates…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Which of the following goods could best be classified as a common resource? a) An electrical grid…

A: Common resources are those resources that are scarce in nature and provide tangible benefits to the…

Q: What are 4 examples of how non-rational human behavior can change an economic outcome?

A: Introduction Non-rational human behavior is behavior that is not based on logical or rational…

Q: What challenges do economies face in light of optimal allocation and public goods

A: For the most part, the public money idea manages the ideal distribution of assets involving it for…

Q: (1). Which of the following is the best definition of economics? A) the study of how individuals…

A: The study or concepts of how money, commerce, and industry are organised are known as economics.

Q: Determine if the following statement is normative or positive: Households that participate in SNAP…

A: Positive Economic: The positive economic deals with the issues or things as they exist. It studies…

Q: The "Freshwater" school of economic thought is commonly associated with - a. Richard Thaler b.…

A: The economics as a study is based upon the idea that each society tend to have a limited amount of…

Q: What is normative statement, explain with an example?

A: Economics is based on two concepts wherein the theoretical part is divided into positive and…

Q: Two men, Robinson Crusoe and Friday, have been marooned separately on the same deserted island.…

A: Who is More Efficient?Fishing: At Robinson Crusoe is great green as he can catch forty fish in line…

Q: What is economics and why is it a relevant subject?

A: Economics is the study of putting the scarce resources to the best possible use that would increase…

Q: What are the pros and cons of market economy?

A: Market economies trace back to ancient civilizations like Mesopotamia, Greece, and Rome, where…

Q: ) Economics is best defined as A) how people make money and profits in the stock market. B) making…

A: Since you have posted multiple questions, we will solve the first one for you. If you want any…

Q: In economics, the difference between normative and positive is that:

A: Positive economics is a stream of economics focused on identifying, quantifying, and explaining…

Q: Ecological economics emphasizes that: the economy is supported by unpaid care labor, which is mostly…

A: Ecological economics is a transdisciplinary field of study that integrates principles from ecology,…

Q: Which of the following statements are examples of positive economic analysis? Which are examples of…

A: Positive analysis is objective, renders itself to empirical validation and answers "What is".…

Q: A union leader states that: "The government should provide subsidies to unemployed workers…

A: The statement which is subjective and based on value judgements and assumptions. Providing any view,…

Q: Economists use economic models to replicate real life situations for economic policy. Production…

A: Production possibilities frontier is a curve which represents all possible combinations of two…

Q: Problem 1 Is each of the following a positive or normative statement? If it is a positive statement,…

A: Positive and Normative statement Positive statements are based on facts, whereas normative…

Q: What is the difference between disagreeing abouta positive statement and disagreeing about a…

A: Economics refer to the study of allocation of scarce resources in the most optimal way, when the…