Can I read Positive vs Normative Economics Explained on EtoBox?
Positive vs Normative Economics Explained by Raz Mahari is a document available to read on EtoBox.
What is Positive vs Normative Economics Explained about?
Positive economics is the objective study of economic facts and relationships without value judgments. It deals with what is and makes factual statements that can be empirically tested. Normative economics introduces subjective opinions and value judgments about how the economy should or ought to be. It makes normative statements about what policies should be adopted. While positive economics focuses on description, normative economics focuses on prescription.
- Author
- Raz Mahari
- Language
- EN