What Is a Normative Economic Statement

question 23

Multiple Choice

What is a normative economic statement?  

• A) a hypothesis used to test economic theory 
• B) a statement of fact 
• C) a statement of what ought to be, NOT of what is 
• D) a statement that indicates what will occur if certain assumptions are true

Appreciate entrepreneurship as a vehicle for economic independence for women and minorities.

Identify the employment scope and scale of small businesses.

Understand the significance of having a clear vision, mission, and strategy for business success.

Recognize the prevalence and impact of family-owned businesses globally.

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Definitions:

Ileum

The last portion of the small intestine. It is directly attached to the large intestine.

Small Intestine

A long, coiled part of the digestive system where most of the absorption of nutrients occurs.

Collagen

A protein that is a major component of connective tissues in the body, providing structural support and strength.

Absorption

The process by which substances are taken up by a tissue, such as the absorption of nutrients by the intestines.