Positive economics deals with objective explanation and the testing and rejection of theories. For example: A fall in incomes will lead to a rise in demand for own-label supermarket foods. If the government raises the tax on beer, this will lead to a fall in profits of the brewers.
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Positive economics deals with objective explanation and the testing and rejection of theories. For example: A fall in incomes will lead to a rise in demand for own-label supermarket foods. If the government raises the tax on beer, this will lead to a fall in profits of the brewers.