Normative economics is: a. An investigation or statement about the norms and culture of other countries. b. An investigation or statement that attempts to describe how the world should be or ought to be. c. An investigation or statement about the positive benefits of a given country.
Normative economics is: a. An investigation or statement about the norms and culture of other countries. b. An investigation or statement that attempts to describe how the world should be or ought to be. c. An investigation or statement about the positive benefits of a given country.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Normative economics is:
a. An investigation or statement about the norms and culture of other countries.
b. An investigation or statement that attempts to describe how the world should be or ought to be.
c. An investigation or statement about the positive benefits of a given country.
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The study about the scarce allocation of resources among the people of the society is referred to as Economics. It has two main branches: microeconomics and macroeconomics.
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