Value judgements
What Value judgements means in Economics A-Level, as defined for AQA.
Definitions of Value judgements
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Reference: AQA
Determining the best option is rarely based on positive economics alone and inherently requires these judgements, which cannot be proven true or false using empirical data.
Subjective statements of opinion that cannot be quantified or tested empirically and that shape economic decision-making and policy.
Influence people's views of what constitutes an equitable distribution of income and wealth and influence policy prescriptions.
Judgements that can make the classification of merit and demerit goods subjective and debated by economists.
Topics that use Value judgements
- Economic methodology (AQA A-Level)
- Merit and demerit goods (AQA A-Level)
- The distribution of income and wealth (AQA A-Level)
Related terms
- Government intervention
- Normative economics
- Value judgement
- Asset Ownership
- Asset Price Inflation
- Ceteris paribus
- Demerit goods
- Economic modelling
Using Value judgements in the exam
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