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प्रश्न
Distinguish between positive economics and normative economics, with suitable examples.
अंतर स्पष्ट करें
उत्तर
The difference between positive economics and normative economics is given as follows:
| Basis | Positive Economics | Normative Economics |
| Definition | Positive Economics deals with factual situations i.e. they describe the actual situation of what was what is and what would be. | Normative Economics deals with the ideal situations of what should be or what ought to be. |
| Personal Value Judgement | It does not involve any personal value judgement | It involves the personal value judgement |
| Examples | The rate of inflation at present is 4% | What should an ideal rate of inflation be? |
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Positive and Normative Economics
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संबंधित प्रश्न
State one example of positive economics.
What is a market economy?
What do you understand by positive economic analysis?
What do you understand by normative economic analysis?
Identify and discuss the nature of the following newspaper reports in terms of positive or normative economic analysis:
(i) "India jumped 23 points in the World Bank's ease of doing business index to 77th place, highest in 2 years." – The Economic Times
(ii) "Government should further liberalise the business rules." – The Economic Times
