Distinguish between positive and normative statements
Positive statements are objective and can be tested whether they are true or false.
Normative statements are subjective value judgements that cannot be tested whether they are true or false.
JB
Related Economics A Level answers
All answers ▸The price of coffee beans rose from $1.15 to $1.40 between June and August 2017. A possible cause of this rise is: a) Improved weather conditions in coffee-growing countries; b) An increase in national minimum wage in coffee growing countries.
Is there a way to find out a nouns gender?
Equilibrium of supply and demand
Explain the 2 ways in which a reduction in interest rates can change consumption in the aggregate demand model of the economy.