Which of the Following Statements Is False

question 160

Multiple Choice

Which of the following statements is false?

• A) Microeconomics is the branch of economics that deals with human behavior and choices as they relate to relatively small units-an individual,a firm,an industry,and a single market.
• B) Macroeconomics is the branch of economics that deals with human behavior and choices as they relate to highly aggregate markets.
• C) Positive economics attempts to determine what is.
• D) Normative economics addresses what should be.
• E) Positive and normative economics both address what should be.

---

Definitions:

Production Goal

A specific target or objective related to the output of goods or services that a company aims to achieve.

Upper Management

The highest level of managers within an organization, responsible for making overarching decisions and setting strategic directions.

Costs of Production

The total expenses incurred in the process of producing or manufacturing goods and services, including materials, labor, and overhead.

Functionally Organized Firm

A company organized according to the functions each part of the organization performs, such as marketing, sales, and production.