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4. Normative vs. Positive (The Wide Scope of Economics)

In this lecture, I discuss (1) the difference between positive and normative questions in the context of unconventional markets, and (2) the wide applicability of microeconomics to any activity where there is scarcity. Check out a description of my teaching activities here: www.tonycookson.com/teaching Check out a list of the videos in this series (organized by topic) here: http://blog.thisyoungeconomist.com/p/learn-microeconomics.html
Length: 08:24

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