Economics - What is Economics? 0.0 / 5 ? EconomicsFiscal policyEconomies of scaleInflation and deflationMonopolyMacroeconomic indicatorsA2/A-levelAQA Created by: Jackson231Created on: 26-01-19 17:51 What is the economic problem? The allocation of scarce resources in an economy to fulfil infinite wants and needs 1 of 5 What are positive statements? Objective statements that can be tested by referring to the available evidence 2 of 5 What are normative statements? Subjective statements which contain a value judgement 3 of 5 What is a free good? A useful good that is naturally abundant in supply with zero opportunity cost to society 4 of 5 Blah blah Big oof 5 of 5
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