Question

difference between positive and normative economics​

Answer 1

Answer:

Normative economics focuses on the value of economic fairness, or what theeconomy "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.

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Answer 2

Answer:

Positive Economics refers to a science which is based on data and facts. Normative economics is described as a science based on opinions, values, and judgment. Positive economics is descriptive, but normative economics is prescriptive. Positive economics explains cause and effect relationship between variables.

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