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Normative Economics

Q: Economics is what it ought to be statement refers to?

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Normative Economics

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Positive Economics is the branch of economics that concerns the description and explanation of economic phenomena. Normative economics is the study of economics that attempts to determine the desirability of different economic conditions.

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Positive economics is the branch of economics that concerns the description and explanation of economic phenomena. Normative economics is the study of economics that attempts to determine the desirability of different economic conditions.

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Normative economics is the idealized part of economics that encompasses value judgments about economic fairness. It typically concerns what the outcome of an economy or what public policy ought to be.

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normative

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