Question

What is positive economics analysis?

Hint:

Positive economics focuses on empirical data and objective analysis, as opposed to normative economics, which deals with value judgments and what should be.

Answer 1

Step 1: Understanding Positive Economics.
Positive economics refers to the branch of economics that deals with objective analysis and facts. It focuses on describing, explaining, and predicting economic phenomena without making judgments or offering prescriptions. Positive economics seeks to understand what is, rather than what ought to be.

Step 2: Conclusion.
Thus, positive economics is concerned with verifiable data and the cause-and-effect relationships in the economy.