It is both. Of course there are certain elements of economics that are undoubtedly objectively true, however, positive economics more often than not bases its conclusions on assumptions, and so, by the very fact of using these assumptions to arive at an objective truth, you are making a value judgement, therefore, more often than not, positive statements are objective conclusions based on subjective premises.
Positive, it's all about having objectives that can be tested, amended or rejected with the help of evidence or an objective explanation.
A positive analysis is a statement of what is. The truth. Purely descriptive statements or scientific predictions.A normative analysis is a statement of what ought to be. Analysis involving value judgments.
Positive economics deals with objective explanation and the testing and rejection of theories. Positive statements are objective statements that can be tested or rejected by referring to the available evidence.For example:A rise in consumer incomes will lead to a rise in the demand for new cars.A fall in the exchange rate will lead to an increase in exports overseas.Normative statements express an opinion about what ought to be. They are subjective statements rather than objective statements - i.e. they carry value judgments.For example:The level of duty on petrol is too unfair and unfairly penalizes motorists.The government is right to introduce a ban on smoking in public places.
what is positive economics and its examples
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.
The pronouns "you" and "it" can serve as both subjective and objective pronouns.
subjective and objective determinants of consumption
Subjective
Positive, it's all about having objectives that can be tested, amended or rejected with the help of evidence or an objective explanation.
Objective
A positive analysis is a statement of what is. The truth. Purely descriptive statements or scientific predictions.A normative analysis is a statement of what ought to be. Analysis involving value judgments.
what is the difference between subjective and objective writing
It can be both objective or subjective. Should have known, vs. Did know
Sience is objective and requires empiracle evidence. Philosophy is subjective and does not require empiracle evidence.
Economics uses empirical models driven by mathematical tools and statistical data to reach objective, positive conclusions. When economics makes normative conclusions, all normative conclusions are not subjective in morality but use efficiency (as in other applied sciences) as the right outcome. In economics, as opposed to other social sciences, general, well-defined answers can be formulated and experimented on, like the physical sciences.
The opposite of objective is subjective (biased).
Objective