Illustrate normative statement
In economics illustrate normative statement?
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The term normative statement in economics is just like a normative statement in any other academic subject. We can say it is a statement about something with an implicit value judgment or moral claim.
It is differ from a descriptive statement i.e. supposed to be ideologically or value neutral.
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Price of related goods: a) Substitute goods – Whenever the price of substitute goods raises they become dearer whenever the price replaces goods falls they bec
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