Educative Site Free Online Academic Courses Tutorials, Books with enough questions and answers
There are some well remarketed differences between positive economics and normative economics which are discussed below:
1. Positive economics is the pure science regarding what is happening. On the other hand, normative economics is the model science of what ought to be.
2. Positive economics produces fact and data based information which has no relationship with value judgment. Normative economics is a science based on ethics. Therefore, in normative economics good-worse, ought to or not to be is highly emphasized here.
3. In positive economics, what is fact is preferred most. But in normative economics what ought to be is preferred most.
4. As positive economics depends on the factual analysis and decision is taken on the basis of this type of analysis. But in normative economics decision is taken on value judgment.
5. In positive economics difference in opinions is rising then solution comes from analyzing the fact and data available. On the other hand, in case of normative economics question of personal and social value judgment arises. It cannot be solved through use of data and fact.
6. Sometimes positive economics and normative economics may have mutual opposite position. Therefore, statement of positive economics may not be acceptable to normative economics. On the other hand statement of normative economics may not be acceptable economics.
7. Positive economics deals with how economic problem is solved but normative economics deal with how economic problem should be solved.