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Unformatted text preview: in the real world. www.thinkwell.com firstname.lastname@example.org Copyright 2000, Thinkwell Corp. All Rights Reserved. 1153 –rev 10/25/2000 Economists in business help make forecasts about when to launch new products and enter foreign markets. Government economists collect data, conduct research, devise plans to finance the national debt, and make decisions regarding implementation of new taxes. Economists in academia teach, conduct research, and publish and present reports of their findings. Positive economics is economics as a predictive, descriptive social science. It answers specific questions in economics. Positive economics seeks to answer the question, How will the world work? Normative economics is about making judgments or evaluations. It is about norms, or standards of judgment. Normative economics seeks to answer the question, How should the world work?...
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This note was uploaded on 06/18/2011 for the course ECON 101 taught by Professor Vicek during the Spring '11 term at Parkland.
- Spring '11