11 Nov 2021
Problem 23
Page 44
Section: CRITICAL THINKING QUESTIONS
Chapter 2: Choice in a world of scarcity
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11 Nov 2021
Introduction
Normative statements:
A normative statement reflects a judgment on whether a specific circumstance is liked or unlikeable in several fields. Normative statements are characterized by modal verbs such as would, could, or must. The normative economy is based on normative assertions and is concerned with the sorts of policies that should be undertaken in order to achieve desired economic outcomes.
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