Question

distinguish between positive and normative economics by giving examples in about 100 to 150 words​

Answer 1

Explanation:

Positive economics describes and explains various economic phenomena or the "what is" scenario. Normative economics focuses on the value of economic fairness, or what the economy "should be" or "ought to be." ... Most public policy is based on a combination of both positive and normative economics.

Answer 2

Explanation:

• Positive economics describes and explains various economic phenomena or the "what is" scenario.
• 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.
• Most public policy is based on a combination of both positive and normative economics.

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.

To put it simply, positive economics is called the "what is" branch of economics. Normative economics, on the other hand, is considered the branch of economics that tries to determine people's desirability to different economic programs and conditions by asking what "should" be or what "ought" to be.