Distinguish, differentiate, compare and explain what is the difference between Positive Economics and Normative Economics. Comparison and Differences.
Differences between Positive Economics and Normative Economics
| S.No. | Basis of difference | Positive Economics | Normative Economics |
| 1 | Meaning | Studies with what is or how the economic problem are originally solved. | Studies with what ought or how the economic problem should be solved. |
| 2 | Validity | It can be verified with original data. | It cannot be verified with original data. |
| 3 | Aim | It aims to provide original description of an economic activity. | It aims to determine the principles. |
| 4 | Suggestive | It is based on set of collected facts. | It is based on opinion of the individual. |
| 5 | Example | Prices and inequalities of income level in an economy. | Government should generate more employment opportunities. |
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Difference between Normative Economics vs Positive Economics
Positive Economics vs Normative Economics
Differences between Normative Economics vs Positive Economics
