Which of the Following Most Clearly Distinguishes Between Positive and Normative

question 138

Multiple Choice

Which of the following most clearly distinguishes between positive and normative economics?

• A) Positive economics is the study of what ought to be; normative economics is concerned with the facts.
• B) Positive economics is the study of the facts; normative economics is concerned with what ought to be.
• C) Positive economics is the study of supply and demand in narrowly defined markets such as the market for shoes; normative economics focuses on highly aggregated markets such as the market for all consumer products.
• D) Positive economics is the study of goods that are scarce; normative economics is concerned with goods that are not scarce.

Evaluate the argument of cultural differentialism through examples of global cultural conflicts and multiculturalism.

Comprehend Ritzer's definitions of grobalization versus globalization and their implications.

Understand the similarities and differences between Frantz Fanon's and Marx's views on capitalism, colonialism, and socialism.

Identify the psychological effects of colonial racism as proposed by Frantz Fanon.

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Definitions:

Non-Financial Information

Information that is not monetary in nature, pertaining to qualitative aspects of a company's operations, such as customer satisfaction or employee engagement.

Management Accounting Information

Data and reports produced for internal use by the management of an organization, facilitating planning, decision-making, and operational control.

Effective Planning

The process of setting goals, developing strategies, and outlining tasks and schedules to achieve the desired outcomes efficiently.

Greater Efficiency

The enhanced effectiveness and productivity with which an organization utilizes its resources, resulting in higher outputs for given inputs.