Question

______ is concerned with what is, and _____ is concerned with what ought to be. Economists is about _____, which measures the costs and benefits of different courses of action.

Answer 1

Answer:

1. Positive analysis

2. Normative analysis

3. Positive analysis

Explanation:

Positive analysis uses scientific principles to arrive at objective and testable conclusion, It relies on objective data analysis, relevant facts, and associated figures. Positive analysis is also called "what is".

Normative analysis is the process of making recommendations about what action should be taken or taking a particular viewpoint on a topic. That is authoritarian. Normative analysis is also called "what should be" or "what ought to be".