Quiz: Value Judgements in Economic Decision-Making
AQA A level economics 7136 specification
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Building on what you've learned about economics as a social science and positive vs normative statements, let's test your understanding of value judgements in economic decision-making!
What is a value judgement in economics?
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Which of the following are examples of value judgements? (Select all that apply)
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Value judgements are often influenced by {{blank0}}, which include beliefs, culture, and {{blank1}}.
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Match the items on the left with their correct pairs on the right
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Why are value judgements important in economic decision-making?
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A government decides to allocate £100 million to healthcare instead of defence. What is the opportunity cost of this decision?
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Match the items on the left with their correct pairs on the right
Which factors can influence value judgements in economics? (Select all that apply)
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What type of statement is 'The government should reduce unemployment to improve living standards'?
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