normative economics
Economic thought in which one applies moral beliefs, or judgment, claiming that an…Economic thought in which one applies moral beliefs, or judgment, claiming that an outcome is "good" or "bad". For example: "this tax on cigarettes will be good because it will reduce smoking."
Meaning
1 senses(uncountable)Economic thought in which one applies moral beliefs, or judgment, claiming that an outcome is "good" or "bad". For example: "this tax on cigarettes will be good because it will reduce smoking."
More definitions
- a part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be.
Lessons for this word
1 lessons- A1Countable and uncountable nouns — Because it can be uncountable
See also
neighbours in the dictionaryDictionary text adapted from Wiktionary (Wiktionary contributors, CC BY-SA 4.0) and Open English WordNet / Princeton WordNet (CC BY 4.0, WordNet License); shared under CC BY-SA 4.0. Example sentences and recordings are credited where they appear.