Question Solved1 Answer The difference between positive and normative economics is best summarized as saying that positive economics is biased, while normative economics is objective. positive economics is pessimistic, while normative economics is optimistic. positive economics is descriptive, while normative economics is prescriptive. positive economics is objective, while normative economics is biased. The fact that the PPF usually bows away from the origin implies that getting more of one good means getting more of another good. as the production of any good increases, there is an increase in the opportunity cost of producing it. getting more of one good means getting less of another good. as the production of any good increases, there is a decrease in the opportunity cost of producing it.

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Transcribed Image Text: The difference between positive and normative economics is best summarized as saying that positive economics is biased, while normative economics is objective. positive economics is pessimistic, while normative economics is optimistic. positive economics is descriptive, while normative economics is prescriptive. positive economics is objective, while normative economics is biased. The fact that the PPF usually bows away from the origin implies that getting more of one good means getting more of another good. as the production of any good increases, there is an increase in the opportunity cost of producing it. getting more of one good means getting less of another good. as the production of any good increases, there is a decrease in the opportunity cost of producing it.
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Transcribed Image Text: The difference between positive and normative economics is best summarized as saying that positive economics is biased, while normative economics is objective. positive economics is pessimistic, while normative economics is optimistic. positive economics is descriptive, while normative economics is prescriptive. positive economics is objective, while normative economics is biased. The fact that the PPF usually bows away from the origin implies that getting more of one good means getting more of another good. as the production of any good increases, there is an increase in the opportunity cost of producing it. getting more of one good means getting less of another good. as the production of any good increases, there is a decrease in the opportunity cost of producing it.
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(c) Positive economics is pessimistic, while normative economics is prescriptive.Explanationpositive science:- analyses cause and effect relationship between variable in a objective aná scientific manner, but it does not involve any value judgement. in other words, it is descriptive in natroe in the sense that it describes the economic behaviour of individuals or Society withouf prescriptions about the desirability or othorwise of such behaviour.normative Science:- involves value judgements. it is prescriptive in nature and Suggests "what should be" a particular course of act ... See the full answer