A Positive Statement Is

question 375

Multiple Choice

A positive statement is

• A) about what ought to be.
• B) about what is.
• C) the result of a model's normative assumptions.
• D) valid only in the context of a model with simple assumptions.

---

Definitions:

Input Markets

Marketplaces where firms buy resources, goods, and services necessary for producing their own products or services.

Output Markets

Markets where goods and services produced by businesses are sold to households, government entities, and other businesses.

General Equilibrium

A state in which all markets in an economy are in simultaneous equilibrium, taking into account the interactions between different markets.

Consumer Preference

The tendencies of consumers to favor certain products or services over others based on personal tastes, values, and experiences.