Asked by Mitchel Rozwadowski on Jul 16, 2024
Verified
Positive statements are descriptive, while normative statements are prescriptive.
Positive Statements
Claims that attempt to describe the world as it is.
Normative Statements
Claims that attempt to prescribe how the world should be.
- Differentiate between positive and normative statements and their roles in economics.
Verified Answer
LC
Laura CranfordJul 17, 2024
Final Answer :
True
Explanation :
Positive statements describe the world as it is, focusing on factual descriptions and objective analysis, while normative statements prescribe how the world should be, embodying subjective judgments and opinions on what is desirable or undesirable.
Learning Objectives
- Differentiate between positive and normative statements and their roles in economics.
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