positive and normative statement
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Positive economics is objective and fact based, while normative economics is subjective and value based.
Positive economic statements must be able to be tested and proved or disproved.
Normative economic statements are opinion based, so they cannot be proved or disproved..
Positive economic statements must be able to be tested and proved or disproved.
Normative economic statements are opinion based, so they cannot be proved or disproved..
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