Intro To Economics Flashcards
1
Q
Economics is a
A
Social science
2
Q
Economic decisions
A
Might not always make the most economics sense
3
Q
What are the two kinds of economic statements?
A
Positive statements
Normative statements
4
Q
Positive statements
A
Objective statements that can be tested be referring to the available evidence.
5
Q
Normative statement
A
Subjective statements which contain value judgement or opinions.
