Positive Economics Questions "What Ought to Be?" Normative Economics Predicts

question 108

True/False

Positive economics questions "What ought to be?" Normative economics predicts the consequences of alternative actions, answering the questions "What is?" or "What will be?"

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Definitions:

Phallic Stage

A stage in Freudian psychosexual development, when a child's focus of pleasure is on the genital area.

Freud

refers to Sigmund Freud, an Austrian neurologist who founded psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

Physical Focus

The emphasis on or concentration of resources and efforts on bodily or material aspects of existence.

Identification

A psychological process in which an individual assimilates an aspect, property, or attribute of another and is transformed, wholly or partially, by the model the other provides.