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Positive & Normative analysis Video Lecture - Commerce

FAQs on Positive & Normative analysis Video Lecture - Commerce

1. What is positive analysis in commerce?

Positive analysis in commerce refers to the objective examination and evaluation of economic phenomena based on facts and data. It focuses on explaining how things are in the real world, without any value judgments or opinions. Positive analysis aims to provide an accurate description of economic behavior and outcomes, using empirical evidence and economic theories.

2. What is normative analysis in commerce?

Normative analysis in commerce involves making value judgments and expressing opinions about economic phenomena. It is concerned with how things should be in the economic realm, rather than how they actually are. Normative analysis often involves subjective viewpoints, personal preferences, and ethical considerations. It aims to provide recommendations or policy advice to improve economic outcomes or address social welfare concerns.

3. How does positive analysis differ from normative analysis?

Positive analysis focuses on describing and explaining economic phenomena as they are, without any value judgments or opinions. It aims to provide an objective analysis based on facts and data. On the other hand, normative analysis involves making value judgments and expressing opinions about economic phenomena. It is concerned with how things should be and often includes subjective viewpoints and personal preferences.

4. What are some examples of positive analysis in commerce?

Examples of positive analysis in commerce include studying the impact of a minimum wage increase on employment levels, analyzing the relationship between advertising expenditures and sales, and examining the effects of taxation on consumer behavior. These examples involve collecting and analyzing data to provide an objective understanding of economic phenomena.

5. Can positive and normative analysis be used together in commerce?

Yes, positive and normative analysis can be used together in commerce. While positive analysis focuses on describing and explaining economic phenomena as they are, normative analysis goes beyond that to make value judgments and express opinions about how things should be. By combining both approaches, economists can provide a comprehensive analysis that includes an objective understanding of the current state of affairs and recommendations for improving economic outcomes or addressing social welfare concerns.

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Oct 07, 2025 Last updated

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