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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.
Normative Economics is the branch of economic analysis that makes prescriptions about the way the economy should work. Positive Economics is the branch of economic analysis that describes the way the economy actually works. Thanks To Louguens Charles
in business
there is no difference between them. In both cources , you have to study the same things. applied economics includes some more study than general economics.
there is none
A normative theory prescribes how things should be or how people ought to behave, based on values and beliefs. A descriptive theory seeks to explain how things are or how people actually behave, based on observations and empirical evidence. Essentially, normative theories provide moral or prescriptive guidance, while descriptive theories provide explanatory or analytical insights.
descriptive is more literal than figuative.
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The difference between a descriptive and limiting adjective is that a descriptive adjective adds detail to the noun, while a limiting adjective limit the noun. For more information, please refer to the related link.
Universalism refers to religious, philosophical and theological concepts that deal with universal applicability. Utilitarianism is a theory in normative ethics of the proper course of action.
Difference between Narrative Essay And Description
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difference micro business
A descriptive statement simply describes a situation or phenomenon, while an explanatory statement seeks to provide reasons or causes for why something is the way it is. Descriptive statements focus on providing details and observations, while explanatory statements aim to offer insight and understanding.
Markowitz is a normative theory while CAPM is a positive theory.
Normative theory is used to advise what methods should be used for accounting. Positive accounting theory explains and predicts accounting as it is currently happening.
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.