Positive Economics Answers the Question, "What Ought to Be?" Normative

question 86

True/False

Positive economics answers the 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:

Worst Scenario

The most adverse or negative outcome that can be envisioned in a given situation, often used in planning or risk assessment.

Adversary

A person, group, or force that opposes or attacks; opponent; enemy.

Advocacy

The act of supporting, defending, or arguing in favor of a cause, policy, or group of people, typically in a political or social context.

1940s

The decade spanning from January 1, 1940, to December 31, 1949, marked by significant events such as World War II.