Which of the following statements concerning the distinction between positive and normative economics is TRUE?
A) Positive statements are concerned with what is, while normative statements are concerned with what someone thinks should be.
B) Positive statements are concerned with what people think, while normative statements are concerned with what people do.
C) Positive statements are true while normative statements are false.
D) Positive statements are concerned with what is while normative statements are concerned with what will be.

Question

Quizplus · Accepted Answer

Positive statements are objective statements that can be verified or tested. They deal with what is, was or will be. Normative statements, on the other hand, are subjective statements that express value judgments. They deal with what ought to be, reflecting subjective opinions or beliefs. Therefore, option A correctly distinguishes between positive and normative economics.

Which of the Following Statements Concerning the Distinction Between Positive