Positive vs Normative economic statements

Curriculum check:    ✓ Edexcel      ✓ OCR


Positive Economic statementS

✓ Objective
✓ Fact-based
✓ Value-free
✓ Can be tested & (dis)proved

Normative Economic statementS

✓ Subjective
✓ Value-based
✓ Value-judgements
Cannot be tested & (dis)proved