Social Sciences, asked by lookkkk786, 9 months ago

Distinguish between positive & Normative Economics

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Answered by krishsarka2299

Answer:

Positive economics describes and explains various economic phenomena or the "what is" scenario. ... While positive economics is based on fact and cannot be approved or disapproved, normative economics is based on value judgments. Most public policy is based on a combination of both positive and normative economics

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Answered by ItzRisingStar

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❥Positive economics and normative economics are two standard branches of modern economics. Positive economics describes and explains various economic phenomena, while normative economics focuses on the value of economic fairness or what the economy should be.

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