Posted by 🖤Bl@Ck £Over🖤 1 month, 3 weeks ago
Positive Economics is a part of economics that contemplates the explanation and elucidation of economic occurrence. It concentrates on certainty and cause-and-effect behavioural association and incorporates the development and trial of economics thesis.
Normative Economics is an outlook on economics that contemplates normative or ideologically dictatorial, discernment toward economic enhancement, statements, investment projects and framework. Disparate to positive economics, which depends on intentional data analysis, normative economics decisively solicitude itself with value discernment and statements of “what has to be” rather than certitude based on cause-and-effect declarations. Normative economics manifests ideological judgement about what may be the outcome in an economic pursuit if public policy changes are made.
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