A possible explanation for a natural phenomenon is called
A) The scientific method
B) A theory
C) Positive economics
D) Normative economics
Correct Answer:
Verified
Q20: Trade can occur only if property rights
Q22: In conducting positive economic analysis,economists apply
A) Subjective
Q23: In their study of the effect of
Q24: Questions that address what did,will or would
Q26: Normative economic analysis addresses
A) What ought to
Q27: Positive economic analysis
A) Involves value judgments
B) Concerns
Q28: Which of the following best represents the
Q29: Positive economic questions
A) Involve value judgments
B) Address
Q30: In conducting normative analysis,economists apply
A) The principle
Q32: Which of the following is a positive
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