Question

Distinguish between positive and normative economics.​

Answer 1

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.

Answer 2

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.

Thank you .