Which of the following is a normative economic statement?
A)The price of milk is too high.
B)The current high price of milk is the result of reduced worldwide supply.
C)When the price of milk rises,the quantity of milk purchased falls.
D)When the price of milk rises,the cost of milk-based products rises.

Question

Quizplus · Accepted Answer

A normative economic statement expresses an opinion or value judgment about what should be. "The price of milk is too high" is an opinion, and therefore a normative statement. The other options are all positive statements, describing what is or what has happened, which are descriptive rather than evaluative.

Which of the Following Is a Normative Economic Statement