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The basic economic problem Categorise

Target Level

Running Total

Attempt

1 of 1

Organise the items below into their correct category.

Categorise the following statements into normative statements and positive statements.

Normative statements

Positive statements

Corporate taxes are too high.

Rich people deserve to be taxed heavily.

People in the UK should save more money for retirement.

In 2021, UK government reduced VAT from 20 per cent to 5 per cent.

Direct taxes such as Pay As You Earn (PAYE) are taxes on one’s income.

Government should prioritise reducing unemployment than price level.

The best level of tax is zero per cent because it will stimulate consumption expenditure.

The UK government is no longer a member of the European Union.

Unemployment can be caused by changes in seasons.

VAT is an example of an indirect tax.

This is your 1^st attempt! You get 1 marks for each one you get right first time. Good luck!

Pass Mark

70%