Positive and Normative Economics
- Created by: Kenisha Liyanage
- Created on: 29-09-13 06:37
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Positive and Normative Economics
Positive Economics
Positive economics is the study of the economy as they actually are or as they actually happen. To find whether it's a positive statement you can check whether it answers one of the following question.
- What is existing in the real world?
- What is happening?
Normative Economics
Normative economics discuss what should happen in real world…
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