Question

define normative & positive economy on the basis of current Lok Sabha elections example.​

Answer 1

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Positive economics and normative economics are two standard branches of modern economics. Positive economics describes and explains various economic phenomena, while normative economics focuses on the value of economic fairness or what the economy should be.

To put it simply, positive economics is called the "what is" branch of economics. Normative economics, on the other hand, is considered the branch of economics that tries to determine people's desirability to different economic programs and conditions

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Answer 2

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