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Difference between normative and positive economics

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Difference between normative and positive economics

Posted by Dilbag Tanwer 6 years ago

CBSE > Class 11 > Economics

3 answers

Saniya Khan 6 years ago

Positive economics - A positive economics science deals with "things as they are "these statements can be empirically verified as these are based upon facts these are not suggestive in nature these deals with realistic situations. Normative economics - These statements tell us "what ought to be " these tell how economic problems should be solved these deals with idealistic situations these statements cannot be empirically verified these are called suggestive in nature.

Mohit Kumar 6 years ago

Normative economic is deals with what ought to be and how to be solved and also it cannot be verified actual data

Mohit Kumar 6 years ago

Positive economic is deals with what are economic problem and how are actually solved and also it can be verified actual data

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