Economics is the social science that analyzes the production, distribution, and consumption of goods and services.

Thursday, 10 November 2011

Positive and Normative economy statement

Positive economy statement versus normative economy statement.

                            i.                  Positive economy statement is a statement which based on facts and not value judgement. Can be tested and verified.
Example: Ethiopia is the poorest nation in the world.

                         ii.                  Normative economy statement is a statement which is bases on value judgement and on personal opinion.  Cannot be tested.
Example: The government of Ethiopia is very inefficient.


Hello am Sani Dauda Lecturer Kaduna Polytechnic Nigeria. I saw your tutorials topics and some of the write ups hope they are well elaborate because what you post is not well explained. Thanks kept it up
potential Ph.D candidate UUM Finance and Banking