Normative Economics

question 45

Multiple Choice

Normative economics:

• A)tells us what has been, is, and will be.
• B)is concerned with value judgments.
• C)determines which social state is most desirable.
• D)establishes fixed standards for behaviour.

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Definitions:

Paleontology

The scientific study of the history of life on Earth through the examination of plant and animal fossils.

Common Ancestor

The latest ancestor from whom all members of a group have descended directly.

Georges Buffon

An 18th-century French naturalist, mathematician, and author known for his significant contributions to the natural sciences, especially in the field of natural history.

Laws of Physics

The fundamental principles that govern the natural world, including laws related to motion, energy, force, and matter.