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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?
Rationale in era of globalisation: In the present era of globalisation where countries have unprecedented access to international capital flows and where those who have borrow
what is the type of the firms
SUMMARY OF THEORY OF PRODUCTION
what the contenporary issues in micro economics in nigeria
Q. Explain about Natural Monopoly? Natural Monopoly: In some industries, economies of scale are so strong that it makes most economic sense for there to be just one supplier. T
a more simple explanation of the group equilibrium in the short and long run
using the aggregate demand and supply model (x axis is national output and y axis is price level) if an economy is in a state of disequilibrium where supply is excess of demand u
Problem 1: i) Is Protectionism always beneficial? Discuss. ii) To what extent can a country actually rely on the principle of Comparative advantage before engaging in in
Question 1 Discuss the short-run cost-output relations Question 2 Write a short note on pure competition Question 3 Describe excess profit criterion Question 4 Disc
how to make attractive assignment on theory of supply
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