Positive statements are ?
Correct answer: C. statements of description that can be tested
- A. Macroeconomic
- B. Microeconomics
- C. statements of description that can be tested
- D. Statements of prescription that involve value judgments.Economics
Explanation
Positive economics describes what is and makes claims that can be checked against evidence. Statements prescribing what should happen are normative and involve value judgments.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Microeconomics
Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
Practise Microeconomics
1,742 free Microeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Microeconomics questions
Which of the following issues is related to microeconomics ?
The traditional profit-maximizing theory of the firm has been criticized by some economists because ?
Public limited companies may not maximize their profits because ?
Which of the following will not shift a country's production possibilities frontier outward ?
Which of the following statements about microeconomics and macroeconomics is not true ?
In making which of the following statements is an economist acting more like a scientist ?