Economists May Disagree About the Validity of Alternative Positive Theories

question 38

True/False

Economists may disagree about the validity of alternative positive theories about how the world works.

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Definitions:

Programmed Decision-making

Decision-making methods that follow established processes or rules, often for routine or repetitive decisions.

Nonprogrammed Decision-making

The process of making decisions in response to unique, novel, or ill-structured situations that require creativity and judgment.

Product Innovation

The creation and introduction of new or significantly improved goods or services in the market.

Process Innovation

The implementation of a new or significantly improved production or delivery method, enhancing efficiency or quality.