People Frequently Confuse Facts with Judgments That Are Based on Beliefs

question 102

Multiple Choice

People frequently confuse facts with judgments that are based on beliefs. This means that people have trouble making the distinction between:

• A) political statements and non-political statements.
• B) rational statements and irrational statements.
• C) macroeconomic theories and microeconomic theories.
• D) positive statements and normative statements.

---

Definitions:

Freight

The charge paid for the transportation of goods, typically by sea, air, or land.

Title Passes

A legal term referring to the point at which the ownership of property, or title, is transferred from seller to buyer under the terms of a contract.

Merchandise Resale

The process of selling previously purchased goods to consumers, typically involving goods acquired from wholesalers or manufacturers.

Accounts Payable

Obligations or amounts owed by a company to suppliers for goods or services received, typically due within a short time period.