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Author Question: The process by which inputs are transformed to outputs is referred to as: A) production. B) ... (Read 98 times)

pepyto

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on: Jun 29, 2018
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.


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gabrielle_lawrence

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

C


pepyto

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

kalskdjl1212

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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