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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?
The distinction between supply and the quantity supplied is best made by saying that
#question.using a well illustrated diagram, explain the concept of producers equilibrium .
Ask questioThe difference between the present value of cash inflows and the present value of cash outflows over a period of time is termed as Net Present Value. This is used for th
Money market: The money market is a market of short-term loans. It consists of financial institutions having surplus fund to lend on short-term basis, and those wishing to bor
"price is becoming cheaper,yet the demand for car is not rising".does it mean law of demand is not operative?
What is the formula for heat and how do you solve it?
Question: Third degree price discrimination Suppose that a monopolist faces two markets with demand curves given by D(p 1 ) = 100 - p 1 D(p 2 ) = 100 - 2p 2 Assume that
wHEN WAGE IS $6.05, HOW MANY HOURS ARE WORKED A WEEK?
the general characterictics of economic models,its limitations and verification
implications of varios market structure for price determination
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