Judgements

Question 1

Define value judgement

Answer 1

Statements or opinions expressed that are not testable or cannot be verified and depend very much on the views of an individual and the values they did

Question 2

Define normative statement

Answer 2

Opinions that require value judgements to be made

Question 3

Define positive statements

Answer 3

Statements that can be tested against real world data

Question 4

Define inflation

Answer 4

A general increase in prices and fall in the purchasing value of money