1.2.1.4

Question 1

concentrates on what already
are – facts, the verifiable

Answer 1

Positive Economics

Question 2

depicts a
picture of what should be – the
opinions, the prescriptions of
economists and experts.

Answer 2

Normative economics

Question 3

talks about
the cause-and-effect
relationship

Answer 3

Positive Economics

Question 4

talks
about the opinions and
judgment.

Answer 4

Normative economics

Question 5

The nature of ______ is factual and
descriptive.

Answer 5

Positive Economics

Question 6

The nature of ________ is prescriptive

Answer 6

normative economics

Question 7

Type of argument behind
positive economics is _______

Answer 7

objective.

Question 8

Type of argument behind
normative economics is ______

Answer 8

subjective

Question 9

can be tested and
the right/wrong can be found.

Answer 9

Positive Economics

Question 10

can’t be tested or
verified

Answer 10

Normative economics

Question 11

points out
the thing as it is so that a
judgment can be passed based
on that fact.

Answer 11

Positive Economics

Question 12

passes
opinions on the facts presented
in positive economics.

Answer 12

Normative economics

Question 13

Positive Economics based on

Answer 13

Facts, reality

Question 14

Normative economics is based on

Answer 14

Values