Positive Economics Answers the Question, "What Ought to Be?" Normative

question 86

True/False

Positive economics answers the question, "What ought to be?" Normative economics predicts the consequences of alternative actions, answering the questions, "What is?" or "What will be?"

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Definitions:

Creative Thinking

The ability to think in novel ways, generate new ideas, and devise unconventional solutions to problems.

Problem-Conquering

The process or approach taken to address, resolve, and overcome challenges or barriers effectively.

Entrepreneurial Leadership

A leadership style that combines the innovation and risk-taking of entrepreneurship with the management skills necessary to lead an organization.

Seeing Opportunities

The ability to identify and act upon chances for personal or business growth, innovation, or improvement.