Read the following statements and determine whether they are true or false.
1: Normative statement is a testable hypothesis about cause and effect (scientific explanation). ____
2: A resource is scarce if the demand for that resource at a zero price exceeds the available supply. ____

Question

BlackTom AI · Accepted Answer

We are asked to evaluate two statements as True or False and explain why each is correct or incorrect.

Statement 1: 'Normative statement is a testable hypothesis about cause and effect (scientific explanation).'
- This is false. Normative statements express value judgments about what ought to be or what should be done. They involve judgments, prescriptions, or norms rather than testable, empirical claims about cause and effect. In contrast, positive (scientific) statements describe the world and can be tested or falsified. The claim that normative statements are testable hypotheses conflates evaluation with empirical testing, which is not accurate.

Statement 2: 'A resource is scarce if the demand for that resource at a zero price exceeds the available supply.'
- This is true. Scarcity in economics arises when available resources are insufficient to satisfy all wants at zero price, i.e., when demand at zero price (the quantity people would want if the good were free) exceeds the quantity that exists. In effect, scarcity exists because resources are limited relative to unlimited human wants, and prices help ration access to a finite supply. The condition described captures the essence of scarcity under standard economic definitions.

Summary of the reasoning pattern: the first statement misclassifies normative judgments as testable hypotheses, which is a categorical error, while the second statement correctly identifies scarcity as a condition where potential demand at zero price outstrips supply, aligning with core economic concepts.

Read the following statements and determine whether they are true or false. 1: Normative statement is a testable hypothesis about cause and effect (scientific explanation). 2: A resource is scarce if the demand for that resource at a zero price exceeds the available supply.

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Positive economics encourages value judgments. BlackTom题目解析

Inherently subjective. This describes [ Select ] positive analysis normative analysis positive analysis normative analysis . A value judgment about costs and benefit which describes what situation an individual prefers. This describes [ Select ] normative analysis positive analysis .

Positive statements are

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Read the following statements and determine whether they are true or false. 1: Normative statement is a testable hypothesis about cause and effect (scientific explanation). ____ 2: A resource is scarce if the demand for that resource at a zero price exceeds the available supply. ____