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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.
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Ask questiowhat are the importance of the branches of economics
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