Problem 1) What is the difference between positive and normative economics? Which is more prevalent in today's economies? Why? What role, if any, do ethics play in positive economics? What role do ethics play in normative economics?
Problem 2) Can market efficiency evolve on its own without government intervention? Why or why not? What role do ethics play in market efficiency?
Problem 3) If resources became freely available in unlimited quantities, would there still be a need for economics?