Knowledge - 1 mark
Analysis - 3 marks
Application - 1 mark
Structure (1 Paragraph)
Knowledge - Define concept from the question
Analysis - Answer question and elaborate
Application - Reference the extract
A positive economic statement is a statement that can be tested to determine whether it’s true or false. A normative statement is a value judgement that cannot be tested. Normative statements tend to be an opinion and include words like fair, unfair, worse or better.
An example from the extract of a positive statement is “the energy bills of 11 million households will be capped for five years”. An example of a normative statement from Extract A is the “market is broken”. This is an opinion and may not reflect reality or the views of others.
