differentiate between normative economics and positive economics.
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Answer:
Positive economics simply describes how things are.
Normative economics, on the other hand, describes how things OUGHT to be :)
Explanation:
Positive and normative, are economical statements, usually stated by economists. An economist making a positive statement is just stating the way things are, economically speaking. Whereas, an economist making a normative statement, is stating how things ought to be, how things should be.
Positive economics simply describes how things are.
Normative economics, on the other hand, describes how things OUGHT to be :)
Explanation:
Positive and normative, are economical statements, usually stated by economists. An economist making a positive statement is just stating the way things are, economically speaking. Whereas, an economist making a normative statement, is stating how things ought to be, how things should be.
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Positive economics simply describes how things are.
Normative economics, on the other hand, describes how things OUGHT to be
Normative economics, on the other hand, describes how things OUGHT to be
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