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Economics > 1.1.2 Positive And Normative Economic Statements > Flashcards

1.1.2 Positive And Normative Economic Statements Flashcards

1
Q

Positive Economics

A

Scientific or objective study

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2
Q

Normative Economics

A

Value Judgements and policies recommendations

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3
Q

Positive Statements

A

Can be supported or refuted (true of false)

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4
Q

Normative Statements

A

Cannot be supported or refuted (opinion)

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Economics (22 decks)

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