Evaluate the following statement Economists are fond of saying ...

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Evaluate the following statement  Economists are fond of saying that there are positive statements and normative ones but the truth is that all questions are really normative.
 
  What will be an ideal response?

Question 2

The owner of a firm wants some advice on how to increase productivity. Suggest three ways the entrepreneur could increase labor productivity through improving technology.
 
  What will be an ideal response?

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Answer to Question 1

This statement could be interpreted as a normative statement but ironically it may actually be a positive statement. That is it may be a statement that can be verified with the use of logic. Whether it can be proved or not or whether it is true or not is not the issue. It is a statement of fact.

Answer to Question 2

There are three main ways to improve technology. First, the entrepreneur could install the most up-to-date equipment and machinery. Second the owner could implement an on-the-job training program to improve the skills of his workers. He could even send a few of his workers to college. Finally, the owner could develop better means of organizing and managing the production process.

[a0266361136]

Excellent

[cdmart10]

TYSM