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Positive versus Normative Economics
Positive Economics
Positive economics considers with the predictions or observations of the particulars of economic life. For instance:
What will be the impact of rise in wages on the price or cost of a product?
Normative Economics
Normative Economics is the value decisions about how economics must work, based on some moral theories or preferences or choices?” For instance:
What wage rate must be given to the auto workers to make them an active
Part or member of the society?
You are a member of a problem solving group that is concerned with incidents involving losses with their information system (IS). Let us assume that IS loss events can be grouped i
What is inflation gap
You are a commuter student at a local university. Because of the steep rise in gasoline prices, your parents decide to give you enough additional weekly cash so that you can affor
Returns from Education Monetary benefits from education are called as returns. Such benefits accruing to an individual are called as private returns. The sum of all private re
Q. Explain about Employment Rate? Employment Rate: This measures share of working age adults who are in fact employed in a paying position. Employment rate can be a better in
Q. Define about Mutual Fund? Mutual Fund: A financial vehicle that involves pooling investments in the shares of many different joint stock (or publicly traded) companies, in o
Using the key distinguishing features of any market structure describe the market structure for the South African mobile telecommunications industry
Q. Define government surplus? Surplus, Government:It's a government surplus exists when a government's tax revenues surpasses its total spending (including both program spendin
explain how a perfact market responds to changes in consumer demand?
wHEN WAGE IS $6.05, HOW MANY HOURS ARE WORKED A WEEK?
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