Normative Economic Statements

question 377

Multiple Choice

Normative economic statements

• A) describe what ought to be.
• B) describe what is rather than what ought to be.
• C) describe the process of economic policy-making.
• D) deal with economic hypotheses that are not well-established laws.

---

Definitions:

Staff Demand

The projected need for employees in an organization to meet its goals and workload.

Plant Operation

The activities involved in managing and running a manufacturing, processing, or production facility to produce goods or products.

Takt Time

The rate at which a product needs to be completed to meet customer demand, calculated as the available production time divided by customer demand.

DLP Assemblies

Refers to digital light processing technology components, typically used in projectors or 3D printing, which use digital micro-mirrors to direct light and create images or structures.