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What example does the author give to back up his statement that maximizing utility is not synonymous with acting selfishly in the book naked economics?
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Economics is what it ought to be statement refers to?
Normative Economics
Which definitions does not describe economics?
"Economics is the study of how people relate to each other" is a statement that does not define economics.
Which of these statement is false Economics is anout conserving scarce resources Economics is about the use of scarce resources?
Economics doesn't truly care about the conservation of scarce resources, it only cares about how those scarce resources are used. The statement 'Economics is about conserving scare resources' is false.
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
In economics what is a normative statement?
A normative statement in economics is like a normative statement in any other academic subject--it is a statement about something with an implicit value judgment or moral claim. It is distinct from a descriptive statement that is supposed to be value/ideologically neutral. For example, a descriptive statement in economics could be something like, 'Social Security is set to go bankrupt by 2050.' Whereas a normative statement would be something like, 'Social Security is set to go bankrupt by 2050 and thus must be saved to prevent a huge boom in elderly poverty.'
Economics is what it ought to be statement refers to?
Normative Economics
Which definitions does not describe economics?
"Economics is the study of how people relate to each other" is a statement that does not define economics.
Which of these statement is false Economics is anout conserving scarce resources Economics is about the use of scarce resources?
Economics doesn't truly care about the conservation of scarce resources, it only cares about how those scarce resources are used. The statement 'Economics is about conserving scare resources' is false.
What is the definition of Building Economics?
building economics is considered as an irrelevant subjectcin the construction industry. justify the statement above
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
What is cintas mission statement?
Cintas' mission is to exceed customers' expectations by providing revolutionary products and services, with an absolute focus on customer satisfaction. They strive to uphold the highest ethical standards in all aspects of their business operations.
In economics what is a normative statement?
A normative statement in economics is like a normative statement in any other academic subject--it is a statement about something with an implicit value judgment or moral claim. It is distinct from a descriptive statement that is supposed to be value/ideologically neutral. For example, a descriptive statement in economics could be something like, 'Social Security is set to go bankrupt by 2050.' Whereas a normative statement would be something like, 'Social Security is set to go bankrupt by 2050 and thus must be saved to prevent a huge boom in elderly poverty.'
To say that all transactions should be voluntary this statement involves?
normative economics
What is the positive and normative analysis in economics?
A positive analysis is a statement of what is. The truth. Purely descriptive statements or scientific predictions.A normative analysis is a statement of what ought to be. Analysis involving value judgments.
What statement represent a central idea of laissez faire economics?
prices are best determined by supply and demand.
Which term apples to this statement conducting a survey to determine the current status of a welfare program?
The term that applies to this statement is "needs assessment." Conducting a survey to determine the current status of a welfare program helps in understanding the needs of the target population and identifying areas for improvement or further support.
What statement about the economics systems of Mexico and cuba is true?
Mexico is a capitalist country, while Cuba is communist.
