Positive: what is. Normative: what ought to be.
Positive: can be tested
- Inflation was 3% in 2025.
- Higher interest rates reduce borrowing.
- Tariffs raise the price of imports.
Normative: a value judgement
- Inflation should be kept below 2%.
- Interest rates are unfairly high.
- Tariffs are wrong.
The points to remember
- Words like should, ought, too high, unfair signal a normative statement.
- Policy needs both: evidence, then a value judgement.
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Many value judgements in economics are about fairness.
Equity is not equality
Equality
Everyone gets the same: the same income, the same share.
Equity
Fairness: what each person should get, which may not be the same.
In policy
Free school meals for poor families are equitable, though not equal.
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A Paper 3 part in this shape could appear, for 4 marks.
Distinguish between a positive and a normative economic statement.
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