Answer to Question #50552 in Microeconomics for marcha
2. in tabular form differentiate between positive and normative economic analysis. Give an example in each case.
2. Positive economics is objective and fact based, while normative economics is subjective and value based. Positive economic statements do not have to be correct, but they must be able to be tested and proved or disproved. Normative economic statements are opinion based, so they cannot be proved or disproved.
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