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The basic economic problem Categorise

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Running Total
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Organise the items below into their correct category.

Normative statements
Positive statements

People in the UK should save more money for retirement.
Unemployment can be caused by changes in seasons.
Rich people deserve to be taxed heavily.
Corporate taxes are too high.
Direct taxes such as Pay As You Earn (PAYE) are taxes on one’s income.
VAT is an example of an indirect tax.
Government should prioritise reducing unemployment than price level.
The UK government is no longer a member of the European Union.
The best level of tax is zero per cent because it will stimulate consumption expenditure.
In 2021, UK government reduced VAT from 20 per cent to 5 per cent.

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