Micro 1.1 0.0 / 5 ? EconomicsEconomic MethodologyA2/A-levelAQA Created by: neve.whinnCreated on: 05-03-20 11:08 What is economics the study of? How the world's scarce resources are allocated to competing uses to satisfy society's wants. 1 of 5 How is economics a social science? It adopts a scientific method for observing the behaviour of individuals and groups, and then makes predictions based on these observations. 2 of 5 What is a positive economic statement? Statements that can be tested against facts and declared true or false. 3 of 5 What is a normative economic statement? Statements that contain opinions or value judgements that cannot be tested against facts. 4 of 5 What do normative economic statements often concern? Views about what individuals, firms or governments should do, based on people's viewpoints. 5 of 5
AQA Unit 3 Economics: Business Economics and the Distribution of Income 5.0 / 5 based on 1 rating Teacher recommended
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