Positive versus normative economics, Microeconomics

Assignment Help:

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?

 


Related Discussions:- Positive versus normative economics

Supply and demand with graphs, Supply function given by equation QS = 3P - ...

Supply function given by equation QS = 3P - 50. Write an equation proposals if: a) Government introduces subsidies of 5 $ per unit; b) the government introduced subsidies of 15%

Marxisism, Hi, Can you help with writing journals homework? It should be in...

Hi, Can you help with writing journals homework? It should be in english as a second language. Ten pages different topics about Karl Marx economics views. I will give you the t

Banking, what is fractional reserve and how does it affect money supply?

what is fractional reserve and how does it affect money supply?

Traditional inventory control based on calculation of eoq, Traditional inve...

Traditional inventory control based on the calculation of EOQ   At this point, it is worth considering some of the problems faced by companies using the simple inventory model

Plot the budget constraints on the graph, 1. Let's get some practice plotti...

1. Let's get some practice plotting budget constraints. On the graph below, plot the budget constraints when: a. (Use Black): P x = 57,P y = 18, and M = 342. b. (Use Blue):

Esalstcity of demand and supply, why is the concept of elasticity crucial t...

why is the concept of elasticity crucial to the study of economics?

Lori teaches singing. her fixed costs are $1, Price | Quantity demanded ___...

Price | Quantity demanded _________________________ 0 250 50 200 100 150 150 100 200 50 250 0 A) Calculate Lorie''s profit-maximizing output, price, and economic profit. B) Do yo

Economic models, the general characterictics of economic models,its limitat...

the general characterictics of economic models,its limitations and verification

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd