1.

Write two features each of positive economics and normative economics.

Answer»

Positive Economics:

  1. Positive economics is that science in which analysis is confined to cause and effect relationship.
  2. Positive economics is concerned with the facts about the economy.

Normative Economics:

  1. Economics as a normative science is concerned with what ‘ought to be’.
  2. Normative economics deals primarily with economic goals of a society and the policies adopted to achieve certain goals.


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