--%>

Illustrate normative statement

In economics illustrate normative statement?

E

Expert

Verified

The term normative statement in economics is just like a normative statement in any other academic subject. We can say it is a statement about something with an implicit value judgment or moral claim.

It is differ from a descriptive statement i.e. supposed to be ideologically or value neutral.

   Related Questions in Microeconomics

  • Q : Demand and Supply-Production to double

    When Mary usually quaffs three glasses of Lost Horizons Cabernet Sauvignon every day, her demand for her favorite vintage will be least probable affected by: (i) The plague of grape worms ruining the bouquet of Lost Horizons Cabernet (ii) Receiving a $2 an hour pay hi

  • Q : Functions of price mechanism What are

    What are the various functions of price mechanism in a free market economy?

  • Q : Road charging-an end to congestion

    ‘State the economic arguments on whether big cities which have congested roads must charge a road tax?’

  • Q : Objective of firm in price

    The firm's objective within price discrimination is to: (w) make the community better off economically. (x) make several consumers better off economically. (y) increase revenue and profit. (z) minimize average cost.

    Q : Market Demand versus Individual Demand

    What is the difference between Market Demand and Individual Demand?

  • Q : Linear supply curves-elasticity for

    A straight-line that positively sloped supply curve which starts from the basis is: (w) elastic for all prices and quantities. (x) inelastic for all prices and quantities. (y) unitarily elastic for all quantities and prices. (z) negatively associated

  • Q : Price elasticity of demand coefficient

    A price elasticity of demand coefficient of infinity implies that: (w) the demand curve is horizontal. (x) each 1 percent price hike elicits a 1 percent increase in revenue. (y) total revenue increases proportionally as a firm increases its price. (z)

  • Q : Purely-competitive market demand For

    For the purely-competitive cranberry market, as in below figure there Curve H is: (i) industry’s long-run supply curve. (ii) firm’s demand curve in the short run. (iii) industry’s marginal cost curve. (iv) firm’s long run margi

  • Q : Examples of pairs of complementary goods

    I have a problem in economics on Examples of pairs of complementary goods. Please help me in the following question. The illustrations of pairs of complementary goods would comprise: (1) Coffee and tea. (2) Butter and margarine. (3) Motor boats and wa

  • Q : Selling footballers-the economic

    State economic arguments on whether a football club must sell a significant player?