Any body can help my assignment about"tools in economics differentiate positive and normative"?
positive = how does it work?
normative = is it working right and how do we fix it?
estimation and modeling are positive tools
policy experiments and solving social planner's problem are normative tools
the poster before me is coo-koo
the economic tools are used to haelp an economy analyze its situation and how respond to such. positive is the economics which simply states "what" is economics. a statement. on the contrast, normative economics says what "must".
Positive statements are about 'what is'
Normative statements are about 'what should be'
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