Question

4. What do you understand by normative economic analysis?​

Answer 1

Answer:

Normative economics focuses on the value of economic fairness, or what the economy "should be" or "ought to be." While positive economics is based on fact and cannot be approved or disapproved, normative economics is based on value judgments.

Answer 2

Explanation:

Normative economic focuses on the value of economic fairness or what the economy should be or ought to be