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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?
Determine the industrial core of world economy The industrial core of world economy saw its level of material productivity and standards of living explode in the 19th and 20th
GOVERNMENT FINANCE: UNION AND STATES: The fiscal position of the Governments - both Centre and States - has been under stress since the mid-1980s. The stress stems from the i
Who are the competitors in the jarred baby food market? What market share do they have? How do Heinz and Beech-Nut compete with one another? Are the barriers to entry high or low f
what to produce of capitalism
I wanted to the fixed and variable costs of breadtalk in singapore from economic perspective
consumer choice involving risk
Calculating Variance (σ) The standard deviations of the 2 jobs are: The standard deviation is used when there are several outcomes instead of only two. * An Examp
Asian Crisis: Between 1997-98, several of the East Asian tiger economies suffered a severe economic and financial crisis. it had big consequences in the global financial markets, t
Wage Differentials: Market structure alone does not account for all of the differences in wages and employment. Market wage differentials arise from various other sources, includin
if you were making the pricing decision for the gasoline company, would you cut, raise or leae the price unchanged
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