Question

Different between positive economics & normative economics ?​

Answer 1

Answer:

positive— talks about what the economy is

normative— it tallks about how economy should be

Answer 2

Answer:

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.

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