THEME 1:
INTRODUCTI
O N TO 1.2 Positive and normative statements
MARKETS
AND
MARKET
FA I L U R E What is the difference between these 2 statements?
• His new car is green
• His new car is a terrible shade of green
Edexcel
1.1 NATURE OF ECONOMICS
Economics
, 1 . 2 P O S I T I V E A N D N O R M AT I V E E C O N O M I C
S TAT E M E N T S
a) Distinction between positive and normative
economic statements
b) The role of value judgements in influencing
economic decision making and policy
INTRODUCTI
O N TO 1.2 Positive and normative statements
MARKETS
AND
MARKET
FA I L U R E What is the difference between these 2 statements?
• His new car is green
• His new car is a terrible shade of green
Edexcel
1.1 NATURE OF ECONOMICS
Economics
, 1 . 2 P O S I T I V E A N D N O R M AT I V E E C O N O M I C
S TAT E M E N T S
a) Distinction between positive and normative
economic statements
b) The role of value judgements in influencing
economic decision making and policy
