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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?
Uses of population census: It is used to determine the size and the growth rate of the population at a country. The helps the government in planning for education, transporta
Essentials of Development Administration Development administration, to be effective and efficient, needs to have the following ingredients: Administrative Innovation:
please can you explainn what "down 0.1 percentage point on the quarter means"?
Supply of a commodity is functionally related to its price. The law of supply rated to this function relationship between price of a commodity and its supply. In contrast to the in
derivation of demand funcation using indifferance curv ordelreay and competed demand curv
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
provide 3 examples of 1210 billionares in the world face scarcity
if australian governmrnt imposed a sales tax on petrol by $0.25, then the price of petrol will rise by 0.25. consumers can not get by without petrol, so they have to pay the whole
consumer=m with the help of indifference curve analyis
Determinants of Private Demand for Education Rates of return on investment in education is only one of the factors determining the demand for private investment though it is
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