When Susan Makes the Statement, ʺThe Government Should Spend Less

question 56

Multiple Choice

When Susan makes the statement, ʺThe government should spend less money to take care of national parks,ʺ she is

• A) not dealing with scarcity.
• B) testing an economic model.
• C) making a normative statement.
• D) making a positive statement.

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Definitions:

Selling

The process of persuading someone to purchase a product or service, involving various techniques to close sales.

Renting

The process of leasing or borrowing an asset or property for a specified period of time in exchange for a fee.

Ultimate Consumers

The end users of a product or service who are not looking to resell it; the final buyers.

Retail Outlet Classification

The categorization of retail stores based on factors such as size, location, product range, and sales method.