What is normative statement, explain with an example?

Q: Answer the following question..    "The Consumer Price Index increased by 4.2 percent in the first…

A: The statement shows that the consumer price index is increased by 4.2 percent. Consumer Price index…

Q: normative economics define and give example

A: Normative economics: - Normative economics is that branch of economics that passes value judgments…

Q: What are some of the Requirements for Economic Models?

A: An economic model is a simplified version of reality that allows us to observe, understand and make…

Q: xplain the difference between positive and normative economics with example.

A: Positive economics is defined as a stream of economist which focuses on quantification,…

Q: State (a) a positive economic statement of your choice, and then (b) a normative economic statement…

A: Differentiate positive and normative economics: Positive economics is described as the descriptive…

Q: Provide two microeconomic statements and two macroeconomic statements. Classify your statements as…

A: The economics as a study is based upon the working of the scarce resources in the economy where the…

Q: Microeconomics concerned with?

A: Microeconomics is the study of individual units of the economy, while macroeconomics is the study of…

Q: Identify from the situation positive and normative economics and give your reasons.

A: Positive and normative economics are the two disciplines of modern economics.Positive economics…

Q: What is the market for bananas an example of? Select one: O a. Micro economics O b. Positivist…

A: MICRO ECONOMICS- micro economics implies the study of the aspect of economy at individual level.it…

Q: Explain with example, how to construct economic model

A: An EM {economic model} is described as the clear version of reality that allows individuals to…

Q: Differentiate between positive economics and normative economics give atleast four difference

A: According to the given question In simple words we can say that economic is basically that social…

Q: Which of the following illustrates the concept of scarcity?

A: It is a fact that resources are scarce and the human wants are unlimited.

Q: What is the difference between normative and positive statements?

A: Positive statement: - positive statements are those statements which described the things as it is…

Q: Which of the following statements are positive, and which are normative? a. The minimum wage creates…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Give one example each of a positive and a normative statement.  Use your own example and not one…

A: The value of economic fairness, or what the economy "should" or "ought to be," is that the focus of…

Q: Which would be a normative economic statement? C The poverty rate hit a new high last year C Prices…

A: Answer -  Normative Economic Statement : - It is statement that indicates opnion of an individual .…

Q: What are normative economics

A: There are two parts of Economics positive economics and normative economics. Positive economics…

Q: Differentiate between normative and positive economics ?

A: Positive economics: It is all about the economic issues that were there in the past, are there in…

Q: Positive economics is Oa based only on true statements Ob similar to normative economics O c…

A: The study of positive economics refers to the study of economics that can be verified with the help…

Q: Positive or Normative?

A: Unemployment benefits are the benefits that the government provides to eligible unemployed people.

Q: Explain the difference between positive and normative analysis, backing your explanation with…

A: Positive analysis: - positive analyses are those statements which described the things as it is and…

Q: Would a good economic model be more likely toaddress a positive statement or a normative statement?…

A: A positive statement is that statement which explains the actual phenomenon of the subject. These…

Q: Jim is at an all-you-can-eat buffet and is considering whether or not to get another plateful of…

A: Answer: Introduction of explanation: Marginal analysis is a method of making decisions based on the…

Q: In economics, the difference between normative and positive is that: -normative economics focuses…

A: Normative economics is a statement based on value judgement. Positive statement is just a statement…

Q: Explain why scarcity leads to tradeoffs

A: In economics a fundamental concept is that of scarcity. Contrary to its colloquial use, economic…

Q: Normative economic statements? a. contain value judgements b. are usually irrational c. are…

A: In economics, we study how various economic agents like households, firms, and the state make…

Q: When we say ceteris paribus, it means all other things remain equal all other things remain positive…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Normative statements are... A) Prescriptive, whereas positive statements are descriptive. B)…

A: In general statements are of two types; positive statements and normative statements. Positive…

Q: Explain how construct economic model?

A: The field of economics studies how resources are allocated in a manner that most of the human needs…

Q: What is scarcity

A: Scarcity is an economic concept which refers to the limited or low availability of the resources or…

Q: . In what ways is economics a science?

A: Microeconomics signifies the study of how individuals and firms make their decisions with respect to…

Q: xplain the difference between positive and normative analysis

A: Normative analysis The analysis which is subjective and based on value judgements and assumptions.…

Q: Economics Significant?

A: Economics is study of human behaviour under scarcity and tradeoffs  Human wants are unlimited but…

Q: The statement "what's good for General Electric is good for the nation" is an example of: the…

A: Fallacy of composition: - The fallacy of composition is referred to the argument of something being…

Q: Why is economics is deeply rooted in the concept of scarcity?

A: Professor Lionel Robinson is a person who give importance to scarcity in economics.

Q: Are the following statements positive or normative statements? v 1. The United States was founded in…

A: Positive statement: - positive statements are those statements that described things as it is and is…

Q: What is the distinction between positive and normative economic analysis? Can you explain with both…

A: There are two modern branches of the economics which are positive economics and normative economics.…

Q: Exaplain the difference between normative and positive economics. Give examples of normative and…

A: These two are the branch of Economics.

Q: What are examples of individual economic agents?

A: Economic agent is a person or an organization who acts as a decision maker that can influence…

Q: What is economics and its example?

A: The wants and desires of the individuals are unlimited but the resources available to satisfy those…