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which is a positive economic statement? A) the price of onions has risen B) we ought...

which is a positive economic statement?

A) the price of onions has risen

B) we ought to do something to eliminate poverty

C) we should eat more healthy food

D) there are too many restaurants to choose from

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Answer #1

Hi student,

I have answered your question. Please let me know if you have any query in the comments.

Answer – Positive economic statements refer to those which are objective and verifiable. Normative economic statements on the other hand, are subjective, differ from individual to individual and cannot be verified. So, normative statements are usually associated with words such as ‘should’ or ‘ought to’ because these statements are never verifiable.

Among the statements given in your question, the last three options are normative because they refer to someone’s point of view and cannot be tested.

However, the statement – ‘The price of onions has risen’ is a positive economic statement because it is a fact and its validity can be tested with data.

So, Option A is the correct answer.

If you think you are happy with the answer, please rate with an up-vote. Stay well and stay safe! :)

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