Examlex
Which of the following statements is true regarding corporal punishment?
Opportunity Cost
Surrendering the potential for benefits from different routes when opting for a specific path.
Production Possibilities Frontier
A chart illustrating the maximum production potential for two or more items, considering a specific amount of inputs.
Positive Statement
An objective and fact-based statement or claim that describes how the world actually is, as opposed to what it should be, often used in economic analysis.
Normative Statement
A value judgment that expresses an opinion or belief about what ought to be, rather than statements of fact.
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