Positive economics seeks to: Group of answer choicesdetermine the most appropriate economic goals for society.determine what government economic policies are best.objectively explain how the economy functions.objectively explain how societies value different economic outcomes.

Deciding what the distribution of income should be is an example of positive economicsGroup of answer choicesTrueFalse

The broad economic goals societies work to achieve are studied in _____.A.per capita economicsB.microeconomicsC.macroeconomicsD.domestic economics

Normative economics is subjective and involves judging different economics outcomes. Which criteria listed below could we use to assess whether an outcome is "good" or "bad", "better" or "worse"? (select all that apply)Group of answer choicesenvironmental sustainabilityefficiencyequitywell-being of the most disadvantaged in society

Distinguish between positive and normative approach in economics. Of what significance is this distinction to the making of economic policy, b) Explain the usefulness of the concept of elasticity

Select the reasons that Economics is important to each of us:Group of answer choicesEconomics shape the world we live in.We become more poor or more wealthier by the economics of where we live.Everyone benefits from knowing new tax laws that affect pay checks.We understand the concepts of buying and selling patterns of human behavior in our environment.Employees benefit from understanding employer policy.