No, A "Normative economic statements are those statements that cannot be either proved or disproved with reference to facts."
However, "Positive economic statements are those statements which can be either proved or disproved with reference to facts."
Answer:
C. It states what your paper will prove
Explanation:
Sorry if it wrong
Answer:
Your task is to take this <em>supply schedule</em> and construct a graphical representation of the data. In doing so, you determine that as the price of soup rises, the quantity of soup supplied increases. This confirms the <em>law of supply.</em>
Explanation:
We draw <u>the supply curve</u> being X-axis the quantity and Y-axis the Price.
The date to construct this representation is in the supply schedule.
This confirms the "law of supply" which states that as the price of a good icnrases the willingess to produce more units of that good increases as there is higher revenue.
Answer: The law of demand
Explanation:
The tabular representation (demand schedule is down below)
Price of Juice (Dollars per can) Quantity Demanded(Billions of can)
2000 0.5
1500 0.75
1000 1
750 1.25
From the table above and the graphical representation attached, <u>the law of demand</u> is confirmed. The law of demand states that the price of a good and the quantity demanded are inversely proportional.
Notice that when the price of the juice increases, the demand decreases and when the price decreases, the demanded increases. This shows that majority of consumers will be more willing to make purchases when there is a decrease in price.
Check the attachment for the graphical representation.
You did answer correctly gg
