Normative Economic Analysis

question 36

Multiple Choice

Normative economic analysis

• A)involves the study of what comprises a normal firm.
• B)involves how resources are actually used in an economy.
• C)involves judgments on how resources should be used in an economy.
• D)is usually thought to be a waste of time.

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Definitions:

Bonobos

A species of great ape (Pan paniscus) known for its peaceful, matriarchal societies and complex social behaviors, native to the Democratic Republic of Congo.

Gorillas

A species of great apes known for their robust build and predominantly herbivorous diet, they play a crucial role in their habitats' biodiversity.

Biological Change

The process through which living organisms evolve across generations due to changes in genetic material, often resulting from adaptation, mutation, or environmental shifts.

Cultural Change

Modifications in the shared beliefs, values, customs, behaviours, and artifacts among members of a society.