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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?
a more simple explanation of the group equilibrium in the short and long run
Explain the factors which would affect the price of a good. As there is a very long list of determinants, the basic issue is for the student to describe and illustrate how shif
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
Nucleic acids perform two important functions 1. Replication: It is the property of biomolecules to synthesise exact copy of it. DNA has this unique property of duplicating it
when does price and output determined in the unregulated monopoly
Is the natural rate of unemployment includes frictional, structural & seasonal unemployment? The natural rate of unemployment contains frictional, structural & seasonal unempl
characteristics and models of oligopoly by Sweezy,cournot and edgework
factor influencing quantity supplied
price of laptop increases by 20% and there is a 40% drop in the quantity demanded?
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use supply and demand diagrams, how the following markets are affected in terms of pr
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