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Differentiate between Normative economy and Positive …

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Differentiate between Normative economy and Positive economy

Posted by Prashant Bhalerao 7 years, 7 months ago

CBSE > Class 11 > Economics

2 answers

Skb Sahil 7 years, 7 months ago

POSITIVE economy is that eco. Which can be verfiable for ex. Population of india is 132 crore. NORMATIVE is that eco. Which cant be verifiable for ex. What ought to be etc.

Deepika Praveen 7 years, 7 months ago

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