ECONOMICS AS A SOCIAL SCIENCE

NORMATIVE AND POSITIVE STATEMENTS:-

In studying economics and a range of other subjects it is useful to distinguish between positive and normative statements. An understanding of the difference between the two types of statement helps people to appreciate the scope and limitations of economics.
Positive statements are those that deal only with facts. ‘Hong Kong is now part of China’, ‘General Motors employs x number of workers’, and ‘Jane Smith obtained a grade A in Economics’, are all positive statements. If a disagreement arises over a positive statement it can be settled by looking at the facts and seeing whether or not they support the statement. Positive statements must be either true or false, where the word true’ is taken to mean ‘consistent with facts’.

Normative statements usually include or imply the words ‘ought’ or ‘should’. They reflect people’s moral attitudes and are expressions of what some......

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Title: Economics As A Social Science
Approximate Word Count: 1191
Approximate Pages: 5 (250 words per double-spaced page)

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