Economy, asked by piyushsahu6727, 2 months ago

explain the concept of positive &Normative economics with illustration

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Answered by gtejaswini634

Answer:

Positive economics describes and explains various economic phenomena, while normative economics focuses on the value of economic fairness or what the economy should be. ... Positive economics is objective and fact-based where the statements are precise, descriptive, and clearly measurable

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