Positive and Normative statements Flashcards

1
Q

what is the difference between a positive and a normative?

A

positive statements deal with facts and can be tested, while normative statements involve value judgments and opinions about what should be done

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2
Q

give an example of where a value judgement may be in economics

A

whether or not to increase the minimum wage

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3
Q

what is a positive statement?

A

positive statements are statements that are objective and fact-based

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4
Q

what is a normative statement?

A

normative statements in economics are statements that make a value judgment about what ought to be or what should be

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