Give one example each for positive and normative economics

1.	Give one example each for positive and normative economics
Answer» \tBasis Positive Economics Normative EconomicsMeaningIt deals with laws, Principles, theories and facts of economics. It deals with opinions, policy evaluation and idealistic part of economics.Reality vs. IdealismIt deals with reality, i.e. \'what is\'. It deals with idealistic situation, i.e. \'What ought to be\'Value JudgmentsNo value judgments are associated with positive economics. value judgments are associated with normative economics.\xa0Example(a) There is inverse relation between price and quantity demanded, other things being equal. (b) In India, 34 % marginal farmers are living below poverty line. (c) MGNREGA was launched in 2005.\xa0(a) Globalization is widening the gap between the rich and the poor. (b) Poverty is worse than unemployment. (c) Price rise is disastrous for the economy. (d) We should not give subsidies on fertilizers.\t

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