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JAMB Economics 1999 Question 4

Question 4

Basic Concepts

Normative economics deals with

  1. A.what is and not what should be
  2. B.facts and not figures
  3. C.facts and figures
  4. D.value judgements.
Show the answer and explanation

Answer: D (value judgements.)

Explanation

Normative economics deals with opinions about what ought to be, which are value judgements; positive economics deals with facts (what is).