What are the differentiated conditions of economic issue, Microeconomics

What are the differentiated conditions of economic issue?

While discussing an economic issue, this is very important to differentiate between:

(a) Two types of conditions: essential and sufficient conditions for a statement to be accurate and

(b) Two forms of statements: positive analysis and normative analysis.

This is easy to confuse the difference between essential conditions and sufficient conditions, a problem which results frequently in incorrect conclusions.

Posted Date: 9/7/2013 7:54:50 AM | Location : United States







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