Asked by Alice Young on Jul 19, 2024
Verified
Normative statements are concerned primarily with:
A) facts and theories.
B) what ought to be.
C) what is.
D) rational choice involving costs and benefits.
Normative Statements
Assertions about how the world ought to be, involving opinions and subjective judgements.
Rational Choice
A theory assuming individuals use logical calculations to make prudent decisions that provide them with the greatest benefit or satisfaction.
Facts
Data or information based on real occurrences or truths used for analysis, decision-making, or proving arguments.
- Identify the distinction between positive and normative statements and their roles in economics.
Verified Answer
SB
suman bashuwaJul 23, 2024
Final Answer :
B
Explanation :
Normative statements are concerned with what ought to be, or what is considered good or right. This is in contrast to descriptive statements, which are concerned with what is currently happening or the facts and theories of a situation. Normative statements involve judgments and values and are often subjective.
Learning Objectives
- Identify the distinction between positive and normative statements and their roles in economics.
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