Economics Multiple Choice Question – 11 August 2017

Economics

Which ONE of these is a normative economic statement?

Select ONE answer:

  1. An increase in the price of cocoa beans will lead to an increase in the price of coffee.
  2. Cars that consume more than the average amount of petrol per mile should have greater taxation.
  3. Subsidies given to a merit good will lead to a reduction in price to the consumer.
  4. The availability of gold as a natural resource is limited.
  5. School children must do 5 hours of homework per week to be successful.

Give 3 examples of a normative economic statement?
……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This is multiple choice question is suitable for Economics KS5 classes.

The answer is 2 – In economics and philosophy, a normative statement expresses a value judgment about whether a situation is desirable or undesirable. It looks at the world as it “should” be.

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Author: stuart001uk2014

Referral marketing, business, economics and accounting s​pecialist & corporate mentor

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