What is economics positive science and normative science?
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5
Heya....
Positive Economic Science....
...It tells what are the actual solutions of economic problem...
.....They can be verify by facts and figures....
example.....in India 22% Population is below poverty line....
Normative Economic Science..
....It tells what the solutions should be for Economic problems....
....They can't be verify by facts and figures...
example... old age pension should be stopped.,
Positive Economic Science....
...It tells what are the actual solutions of economic problem...
.....They can be verify by facts and figures....
example.....in India 22% Population is below poverty line....
Normative Economic Science..
....It tells what the solutions should be for Economic problems....
....They can't be verify by facts and figures...
example... old age pension should be stopped.,
Answered by
0
Science is the field of giving rigorous answers, but ironically the definition of "science" is itself not rigorous.
Science is:
Processes for creating models for reliable prediction and control of the natural world;
Models created using those processes; and
Application of those models.
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