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Chapter 2, . - Coggle Diagram

- - - - A fall in the supply of petrol should lead to an increase in its price.
      - • A 10% increase in tourist numbers in Mauritius is likely to create at least 15% more jobs in the tourist industry.
      - • An increase in taxation on cars might result in a fall in demand for new cars
      - • The inflation rate of 8% in 2021 was the worst in 10 years.
      - When an economist expresses an opinion or makes a value judgement
        within their analysis, the statement can no longer be proven. Statements
        that express a value judgement are referred to as normative
        statements.