Accountancy, asked by dylandiva, 10 months ago

DIFFERENCE BETWEEN POSITIVE AND NORMATIVE ECONOMICS?

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Answered by siddhi12314

Answer:

Positive economics is objective and fact based, while normative economics is subjective and value based. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. Normative economic statements are opinion based, so they cannot be proved or disproved

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