two characteristics of positive economics
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Positive economics is based on cost effects and facts.
It deals with realistic situation.
It can be verified with actual data.
It deals with positive school of economists like Adam Smith and his followers.
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The term positive economics refers to the objective analysis in the study of economics. Most economists look at what has happened and what is currently happening in a given economy to form their basis of predictions for the future. This investigative process is positive economics. Conversely, a normative economic study bases future predictions on value judgments.
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