Differentiate between Normative economy and Positive economy

1.	Differentiate between Normative economy and Positive economy
Answer» POSITIVE economy is that eco. Which can be verfiable for ex. Population of india is 132 crore.NORMATIVE is that eco. Which cant be verifiable for ex. What ought to be etc.<br>Positive economics\xa0is objective and fact based, while\xa0normative economics\xa0is subjective and value based.\xa0Positive economic\xa0statements must be able to be tested and proved or disproved.\xa0Normative economic\xa0statements are opinion based, so they cannot be proved or disproved.

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