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ECONOMICS-
MANAGERIAL ECONOMICS-
These are the basic differences which I told you.
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Question : Bearing in mind the assertion that economics is a "positive" and not a "normative" science, with which of the following problems would an economist be concerned? I. The unfairness of the distribution of wealth II. The effect on prices due to speculation in raw materials III. The results of union pressure for increased wages IV. The rights and wrongs of exaggerated advertising claims
Option 1: I only
Option 2: II, III
Option 3: I, III
Option 4: I, II, III, IV
Question : Statement 1: The term entrepreneur was introduced by French economist Richard Cantillon Statement 2: The term entrepreneur was first introduced in economics by the early 19th century.
Option 1: Both are true
Option 2: Both are false
Option 3: Statement 1 is true and statement 2 is false.
Option 4: Statement 1 is false and statement 2 is true.
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