Question

Consider the statement given below “during 2015-16 the Indian economy registered a
growth rate of 6.2%. The above statement is an example of Positive economics or normative
economics.

plz answer correct or i will report your account

Answer 1

Answer:

positive

Explanation:

Positive economics describes and explains various economic phenomena or the "what is" scenario.

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.

Most public policy is based on a combination of both positive and normative economics.