Normative Economics
Definition: A perspective on economics that incorporates subjectivity within its analyses. It is the study or presentation of "what ought to be" rather than what actually is. Normative economics deals heavily in value judgments and theoretical scenarios. It is the opposite of positive economics.
Hint- Normative is mostly opinion based statements. To remember, think of someone saying something like "It's Normal that most people drive cars." This is an opinion, or a normative statement.
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