Examlex
Which of the following statements is NOT true regarding the tropical rain forest?
Positive Economics
The branch of economics that concerns the description and explanation of economic phenomena, focusing on facts and cause-and-effect relationships without making judgments.
Normative Economics
The branch of economic analysis that makes prescriptions about the way the economy should work.
Allocatively Efficient
A situation where resources are distributed in a way that maximizes the net benefit to society, often where marginal cost equals marginal benefit.
Productively Efficient
A situation where goods or services are produced at the lowest possible cost, maximizing the allocation of resources.
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