Positive Economics Question, "What Ought to Be?" Normative Economics Predicts

question 4

True/False

Positive economics question, "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:

Buddhism

A spiritual tradition and religion founded on the teachings of Buddha, focusing on personal spiritual development and the attainment of a deep insight into the true nature of life.

Octavio Paz

A Mexican poet and diplomat, awarded the Nobel Prize in Literature in 1990, known for his works that explore the nature of individual experience and cultural identity.

Indigenous Philosophies

The set of varied philosophical perspectives, knowledge systems, and approaches to living and understanding the world that are rooted in the cultures and experiences of indigenous peoples.

Social Existence

The way individuals exist or live together in communities or societies, influencing and being influenced by each other.