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What are positive issues in economics? What are normative issues? Give an example of each. The principle of the Invisible Hand asserts that self-interested behaviour

  1. What are positive issues in economics? What are normative issues? Give an example of each.
  2. "The principle of the Invisible Hand asserts that self-interested behaviour on the part of resource-owners leads inevitably to chaos." True or false, and why?
  3. What is the difference between production and exchange?

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