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Difference between positive and normative economics

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Difference between positive and normative economics

    • Posted by Lavish Khandelwal 4 years, 6 months ago

    CBSE > Class 11 > Economics
    • 2 answers

    Sia ? 4 years, 6 months ago

    BASIS FOR COMPARISON POSITIVE ECONOMICS NORMATIVE ECONOMICS
    Meaning A branch of economics based on data and facts is positive economics. A branch of economics based on values, opinions and judgement is normative economics.
    Nature Descriptive Prescriptive
    What it does? Analyses cause and effect relationship. Passes value judgement.
    Perspective Objective Subjective
    Study of What actually is What ought to be
    Testing Statements can be tested using scientific methods. Statements cannot be tested.
    Economic issues It clearly describes economic issue. It provides solution for the economic issue, based on value.

    1Thank You

    Dj Čhææňdal Jha 4 years, 4 months ago

    very very thanks ❤

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