When Economists Make Normative Statements,they Are

question 35

Multiple Choice

When economists make normative statements,they are

• A)speaking as scientists.
• B)speaking as policy advisers.
• C)making claims about how the world is.
• D)revealing that they are very liberal in their views of how the world works.

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Definitions:

Strategic Marketing Process

The approach involving the allocation of resources, identification of target markets, and implementation of marketing plans to achieve business goals and create competitive advantage.

Common Law

Common law is a body of law derived from judicial decisions of courts and similar tribunals, rather than statutes passed by the legislative body.

Precedent

A legal principle or rule established in a previous legal case that is either binding or persuasive for a court when deciding subsequent cases with similar issues or facts.

Legislation

Laws and statutes enacted by a governing body to regulate, authorize, sanction, grant, declare, or restrict.