Distinguist between normative economics and positive …
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Posted by Geeta Biswakarma 6 years, 10 months ago
- 1 answers
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Soniya Sivakumar 6 years, 10 months ago
1.it deals with the problems based on opinion,values and judgements.
2.here,economist believe that the solutions should raise the standard of people.
3. economics is not strictly neutral.
4.eg:min.wages should be given to the labour,govt.should consider reducing unemployment.
5.other name-normative science
Positive economics:
1.it deals with the problems as they are.
2.it is purely based on facts and data.
3.it remains strictly neutral with regard to ends.
4.other name-economics as a positive science.
5.eg:study of choices,t ax reduced to increase
disposable income
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