The Distinction Between Positive and Normative Economics

question 76

Multiple Choice

The distinction between positive and normative economics

• A) is that positive economics applies only to microeconomic problems
• B) is that normative economics applies only to microeconomic problems
• C) is the difference between an assumption and a conclusion
• D) helps us understand why economists sometimes disagree with one another
• E) explains why economics is not a social science

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Definitions:

Anticompetitive Behavior

Actions by businesses aimed at undermining competition, often through unfair practices, to maintain or acquire market dominance.

Antitrust Law

A body of laws designed to prevent anti-competitive practices, monopolies, and to promote fair competition for the benefit of consumers.

Social Media Companies

Businesses that provide platforms for social networking, allowing users to share content, interact, and establish community over the internet.

Antitrust Enforcement

Government actions aimed at preventing monopolies and promoting competition among businesses within the market.