Normative Economics Seeks to Understand Behavior, but Not Make Judgments

question 2

True/False

Normative economics seeks to understand behavior, but not make judgments.

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Definitions:

Persuasive Documents

Written materials designed to convince or influence the reader's thoughts or actions.

Financial Resources

The funds that are available to a business for spending in the form of cash, liquid securities, and credit lines.

Impact/Likelihood Matrix

A tool used in risk management to evaluate risks based on the likelihood of their occurrence and the impact if they do occur.

Manage Risk

The systematic process of identifying, analyzing, and responding to potential risks to minimize their impact on an organization.