Economy, asked by Sandhusingh5229, 9 months ago

Explain the concept of positive and normative economic with illustrations?
100 to 150 words

Answers

Answered by rm7338002
4

Positive Economics refers to a science which is based on data and facts. ... Positive economics explains cause and effect relationship between variables. On the other hand, normative economics pass value judgments. The perspective of positive economics is objective while normative economics have a subjective perspective.

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