'An increase in the price of petrol will increase the demand for hybrid vehicles.' This statement is an example of a positive economic statement.

Name: 'An increase in the price of petrol will increase the demand for hybrid vehicles.' This statement is an example of a positive economic statement.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This statement is a positive economic statement as it describes a cause-and-effect relationship between two economic variables - an increase in petrol price and an increase in demand for hybrid vehicles.

'An Increase in the Price of Petrol Will Increase the Demand