Multiple Choice
Which of the following statements best describes positive economics?
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0. Basic Principles of Economics
Positive and Normative Analysis
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A positive statement is always:
A
descriptive and can be tested or verified
B
intended to prescribe what ought to be done
C
based on personal values and opinions
D
concerned only with ethical judgments
Verified step by step guidance1
Understand the difference between positive and normative statements in economics. Positive statements describe the world as it is and can be tested or verified, while normative statements express opinions about what ought to be done.
Identify that a positive statement is descriptive, meaning it provides information about economic facts or relationships without any judgment or prescription.
Recognize that positive statements can be tested or verified through data, experiments, or observation, making them objective rather than subjective.
Contrast this with normative statements, which are based on personal values, opinions, or ethical judgments and cannot be tested or proven true or false.
Conclude that the correct characterization of a positive statement is that it is descriptive and can be tested or verified.
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