a) Positive and normative statements
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4 Terms
1
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What is a positive statement?
An objective statement that
Is based on empirical evidence
And can be proven true or false
2
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What is a normative statement?
A value judgement that
Is an expression of an opinion or belief
3
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How do value judgements impact the economy?
They influence
Individual economic decisions
And a government’s economic policies
4
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