The process by which inputs are transformed to outputs is ...

[pepyto]

The process by which inputs are transformed to outputs is referred to as:
 
  A) production.
  B) distribution.
  C) depreciation.
  D) absorption.

Question 2

Which of the following statements is true?
 
  A) Positive economics describes what people ought to do.
  B) Normative economics describes what people actually do.
  C) Positive economics generates objective descriptions that can be verified with data.
  D) Normative economics is free from value judgments, tastes, and preferences of economic agents.

[gabrielle_lawrence]

Answer to Question 1

A

Answer to Question 2

C

[pepyto]

Thanks for the timely response, appreciate it

[milbourne11]

TYSM