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CBSE Class 11-commerce Answered

what is positive and nomanative economics?
Asked by sanjeevnayan3 | 11 Jul, 2019, 08:51: PM
answered-by-expert Expert Answer

Positive economics:

  • Studies with what is and is based on facts and figures
  • It can be verified with original data as it is based on facts.
  • Example: In India, unemployment rate is 15%.

Normative economics:

  • Studies with what ought to be or how the economic problem should be solved.
  • It cannot be verified with original data
  • It is based on opinion of the individual.
  • Example: Government should generate more employment opportunities in the country.
Answered by Christina | 12 Jul, 2019, 09:35: AM

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