What Is the Difference Between Positive Economic Analysis and Normative

question 210

Essay

What is the difference between positive economic analysis and normative economic analysis? Give one example each of a positive and normative economic issue or question or statement.

---

Definitions:

Compromise

An agreement or settlement of a dispute that is reached by each side making concessions.

Sacrifices

Forgoing of personal desires or assets for the benefit of others or for a greater purpose.

Employed Wives

Women who are married and actively engaged in the workforce.

Depression

Depression is a medical condition characterized by persistent sadness, lack of interest or pleasure in activities, and can severely impact daily functioning.