Positive Economics refers to a science which is based on data and facts. Normative economics is described as a science based on opinions, values, and judgment. Positive economics is descriptive, but normative economics is prescriptive. Positive economics explains cause and effect relationship between variables.
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ANSWER:
Positive Economics refers to a science which is based on data and facts. Normative economics is described as a science based on opinions, values, and judgment. Positive economics is descriptive, but normative economics is prescriptive. Positive economics explains cause and effect relationship between variables.
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