Question

explain the positive and normative with illustration​

Answer 1

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. To put it simply, positive economics is called the "what is" branch of economics. ... There are no instances of approval-disapproval in positive economics.

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Answer 2

Answer:Positive economics describes the matter of the presence of a theory with proven facts and figures that needs to be taken into account before developing the theory. For example, Law of demand where the theory is derived with proven facts.

Normative economic is based on beliefs that are supported by valued judgement which is better for the nation's economic future as well as leads to social welfare. For example, belief that income should be distributed evenly in the economy.

Explanation: