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After you and your friend Dolores share pretzels and animal crackers,she announces that she wants to start digesting her food by watching television.You inform Dolores that
Positive Economic Statement
An objective statement that can be tested or validated through data, as opposed to a normative statement which is subjective and opinion-based.
Normative Statement
A statement that expresses a value judgment or opinion, suggesting how things should be rather than stating factual evidence.
Moral Judgment
The process of determining the rightness or wrongness of actions, often based on ethical principles.
Opportunity Costs
The cost of missing out on the top alternative by deciding on another option.
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