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Difference  between positive  and normative economics? …

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Difference  between positive  and normative economics?

 

  • 1 answers

Naveen Sharma 8 years, 4 months ago

Ans. Positive economics is objective and fact based, while normative economics is subjective and value based.

Positive economic statements do not have to be correct, but they 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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