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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?
differance between capitalism and socialism
Use a graphical illustration to describe briefly what the influence of each of the following would be on the market supply of labor:(a) an increase in immigration (b) more women en
oxidation state of f block elements
Quality Control: Standards and standardisation, quality systems, certification and inspections, measurement systems, testing laboratories, their accreditation and calibration
Determine the productivity level of US Those who live in relatively poor regions of the world today have higher material living standards than their predecessors who lived in t
What are the basis for International Trade?
nm utility index
the prevention of major swings in economic activity cn be handled most easily by the financial or government sector?
What is snob effect
what is demand function
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