Normative economics deals with?

Assessment: JAMB UTME - Economics - 1999 Subject: Economics

Question 1 Report

Normative economics deals with?
Answer Details
Normative economics deals with value judgements or what should be, as opposed to positive economics which deals with what is. Normative economics involves making recommendations about how the economy or economic policies should be designed to achieve certain goals. It involves making value judgments based on ethical or moral principles, political beliefs, or personal preferences. Examples of normative economic questions include "What should be the minimum wage?" or "What is the most efficient tax system?"
Read lesson note on Economics As A Science (JAMB)
View Answer

Related Questions

1

Favorable terms of trade is important to a country because it facilities?
2

In the table, the income elasticity of clothing is
3

Use the diagram above to answer this question. Identity the three Important factors that can make So to become either S1 or S2
4

Calculate the total number of people engaged in tertiary production from the data above
5

In the diagram above, the consumer attains equilibrium at point
6

The graphs illustrate
7

Use the diagram above to answer this question. Points E6 and E5 are respectively equilibrium points for
8

From the table calculate the national income

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning