Methodology 1.2.1

Question 1

What do economists use to employ by asking questions, producing explanations, and form hypotheses?

Answer 1

The scientific method

Question 2

What are three questions that economics ask?

Answer 2

1. ) What should we produce?
2. ) How will it be produced?
3. ) Who is going to get it?

Question 3

What are the three fields that economists have integrated into?

Answer 3

1. Business
2. Government
3. Academia

Question 4

What type of economics are predictive or descriptive?

Answer 4

Positive economics

Question 5

What type of economics are judgmental or evaluative?

Answer 5

Normative economics

Question 6

Is this a positive or normative statement?

Lung cancer kills millions of people each year.

Answer 6

Positive

Question 7

Is this a positive or normative statement?

Too many people smoke.

Answer 7

Normative

Question 8

Would gender of children or consumer income be a variable that would influence consumer spending?

Answer 8

Consumer income

Question 9

Economists use economic models to ?

Answer 9

understand how the real world works