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Summary 1.1.2 Positive and normative economic statements

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Positive and normative statements









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Uploaded on
November 13, 2022
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Written in
2022/2023
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Summary

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Positive Statement can be proved true or false, and are objective
◦E.g Heinz make bake beans

Normative Statements cannot be proved true or false, and are therefore subjective. They often carry
Value Statements that can be tested by looking at available evidence.
◦E.g Heinz make the best bake beans
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