JAMB UTME - Economics - 1999 | Green Bridge CBT

Normative economics deals with?

what is and not what should be

facts and not figures

facts and figures

value judgements

Bayanin Amsa

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?"






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