Positive Economics
Positive economics is an approach that focuses on the objective analysis of economic phenomena. It involves the study of what is, rather than what should be. Positive economics seeks to explain and predict economic behavior based on empirical evidence and facts. It is based on the principles of scientific inquiry and aims to provide objective and value-free analysis.

Examples of positive economics:
1. The study of the impact of tax cuts on economic growth: Positive economics would analyze the historical data and statistical evidence to determine the relationship between tax cuts and economic growth.
2. The analysis of the impact of minimum wage laws on employment: Positive economics would examine the data and empirical studies to determine the effect of minimum wage laws on employment levels.
3. The study of the relationship between inflation and interest rates: Positive economics would analyze historical data to understand the correlation between inflation and interest rates.

Normative Economics
Normative economics, on the other hand, deals with subjective judgments about what ought to be. It involves value judgments and opinions about economic policies and outcomes. Normative economics aims to provide recommendations and prescriptions for how the economy should be structured and how resources should be allocated.

Examples of normative economics:
1. The argument for increasing government spending on healthcare: Normative economics would involve subjective opinions about the importance of healthcare and the belief that more resources should be allocated to this sector.
2. The debate about the optimal level of income redistribution: Normative economics would involve differing opinions about the fairness of income distribution and recommendations for policies to address inequality.
3. The discussion on the desirability of environmental regulations: Normative economics would involve subjective judgments about the importance of environmental protection and the trade-offs involved in implementing regulations.

Key Differences
1. Objective vs. subjective: Positive economics focuses on objective analysis based on facts and empirical evidence, while normative economics involves subjective value judgments.
2. Descriptive vs. prescriptive: Positive economics describes and predicts economic behavior, while normative economics prescribes what should be done.
3. Value-free vs. value-laden: Positive economics aims to be value-free and unbiased, while normative economics is inherently value-laden and influenced by personal opinions and values.
4. Aims vs. outcomes: Positive economics aims to explain and predict economic phenomena, while normative economics aims to provide recommendations for desired economic outcomes.

In conclusion, positive economics is concerned with objective analysis and explanation of economic phenomena, while normative economics involves subjective value judgments and recommendations for economic policies. Both approaches have their own merits and play important roles in understanding and shaping economic decisions and outcomes.