These are examples of normative economic statements.Normative economic statements are what separate political parties and the different economic agendas they put forward.These judgements are called normative economic statements.These judgements are built around opinions and beliefs as to what the best economic policies or solutions may be Normative economics focuses on value judgements.Prices in the UK have risen dramatically, partly due to the 20% increase in the price of oil.Increasing the minimum wage last year in the UK resulted in improvements to wage inequality.The UK unemployment rate has fallen from 4% to 3.7% in the past three months.These are examples of positive economic statements.These positive economic statements are based on empirical evidence and tend to be statements of fact.Positive economics is concerned with objective statements of how a market or an economy works.
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