Definition with example of positive and normative economics
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Positive economics is objective and fact based, while normative economics is subjective and value based. Positive economic statementsmust be able to be tested and proved or disproved. ... For example, the statement, "government should provide basic healthcare to all citizens" is a normative economic
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Positive economics is objective and fact based, while normative economics is subjective and value based. Positive economic statementsmust be able to be tested and proved or disproved. ... For example, the statement, "government should provide basic healthcare to all citizens" is a normative economicstatement.
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