Define normative and define positive

1.	Define normative and define positive
Answer» Normative economics deals with what ought to be based on value judgments. It is used to judge whether the economic events are desirable or not.\xa0Positive economics\xa0is objective and fact based, while\xa0normative economics\xa0is subjective and value based.Positive economic statements must be able to be tested and proved or disproved. Normative economic\xa0statements are opinion based, so they cannot be proved or disproved.

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