Question

What is the difference between Positive economics and normative economics​

Answer 1

Normative economics focuses on the value of economic fairness, or what the economy "should be" or "ought to be." While positive economics is based on fact and cannot be approved or disapproved, normative economics is based on value judgments.

Answer 2

Explanation:

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.

Whereas 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.