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:

Punished

The act of imposing a penalty or negative consequence on someone as a response to an undesirable behavior or action.

Social Norm

Unwritten rules or expectations for behavior in a given group or society.

Attitude

A settled way of thinking or feeling about something, typically reflected in a person's behavior.

Attribution

The process by which individuals explain the causes of behavior and events.