Question

what is positive and normative economic

Answer 1

Heya.....

See here for your answer....

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@@ Positive economy...

Define,, The economy which relates to economic status of past, present , future....

Verification,, These statement can be verify by facts and figures...

Judgement,, The are not included value judgements...

Example,, 21% of population is below poverty line in India...

@@ Normative economy...

Define,, The economy that relates what the economic status ought to be...

Verification,, The can't be verify at all...

Judgement,, These are the opinions of Economist and included value judgement...

Example,, Old age pension should be stop to increase wealth..

-- Be Brainly...

Answer 2

The estimated total profit on the contract can be calculated by deducting the total cost from the contract price. The profit and loss account should be credited with the proportion of total estimated profit on cash basis, which the value of work certified bears to the total contract price.