MICRO - LS4 - Positive & Normative Statements

Question 1

Positive economic statements

Answer 1

Can be PROVEN true/false
Objective
Use evidence for be tested

Question 2

Normative economic statements

Answer 2

Express opinions - can’t be proven true/false
Subjective
Contain value judgment (opinions)

Question 3

Usual normative word indicators

Answer 3

Fair
Unfair
Should
Ought
Better
Worse

Question 4

Governments make …. on economic issues

Answer 4

Value judgments

Question 5

Governments use …. to help make decisions

Answer 5

Positive analysis