Normative economic statements

Name: Normative economic statements
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Normative economic statements express value judgments about what should or ought to be, rather than just describing what currently exists or how things work. They are subjective and depend on individual opinions or beliefs. Examples include statements such as "the government should increase funding for education" or "minimum wage should be higher to reduce poverty."

Normative Economic Statements