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What is the difference between positive and normative economics? How does society's economizing problem manifest itself through production possibility theory?
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Running head: POSITIVE AND NORMATIVE ECONOMICS
Positive and Normative Economics
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1
POSITIVE AND NORMATIVE ECONOMICS
2
Positive and Normative Economics
Economic resources are factors utilized in producing goods and services. They are typical
inputs used to create or develop goods and services, and they can be either human (labor) or nonhuman (capital goods and ...
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