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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?
Suppose we divide Canada into three regions; the west, the centre and the each
Q. Explain about Banking Cycle? An economic cycle that results from cyclical changes in the attitudes of banks toward lending risk. When economic times are good, bankers become
Summary of Demand and Supply Considerations of Education A study of supply and demand considerations in education helps in understanding four major issues and concerns of an e
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Money market, labour market, goods market
Returns to Scale in Carpet Industry * The carpet industry has grown from the small industry to large industry with some large firms. * Question - Can the growth be illu
POLICIES FOR SOCIAL INFRASTRUCTURE DEVELOPMENT: The origin of official policies for social infrastructure development is the National Policy of Education, 1986 for the develo
1. Using personal (work) experience or examples found from companies you research or from text book scenarios: a. Give an example of at least two "conflicting measurements" bei
Explain the role of managerial ecnomist in kissan &dipsy fro ub group
Document Design It refers to the overall "look" and design rather than the content of a document. Specific elements such as white space, limited paragraph indentations, length
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