Quiz: Value Judgements in Economic Decision-Making
Pearson Edexcel Level 3 Advanced GCE in Economics A (9EC0)
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Building on what you've learned about economic models and assumptions, let's explore value judgements in decision-making. This quiz will test your understanding of the topic and help you apply key concepts!
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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A value judgement is based on {{blank0}} rather than {{blank1}}.
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Match the items on the left with their correct pairs on the right
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Which of the following is an example of a value judgement?
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Why are value judgements significant in economic decision-making? (Select all that apply)
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If an economist states that 'raising taxes will reduce disposable income,' is this a positive or normative statement?
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Match the items on the left with their correct pairs on the right
Which statement expresses a normative view?
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Value judgements often involve {{blank0}} about what is {{blank1}}.
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