Definitions for positive economics
pos·i·tive eco·nom·ics

WiktionaryRate this definition:0.0 / 0 votes

1. positive economicsnoun

   The branch of economics that concerns the description and explanation of economic phenomena and their causal relationships

WikipediaRate this definition:0.0 / 0 votes

1. Positive economics

   Positive economics (as opposed to normative economics) is the part of economics that deals with positive statements. That is, it focuses on the description, quantification and explanation of economic phenomena. It deals with empirical facts as well as cause-and-effect behavioral relationships and emphasizes that economic theories must be consistent with existing observations and produce testable, precise predictions about the phenomena under question. Positive economics as a science concerns analysis of economic behavior to determine what is true. Examples of positive economic statements are "the unemployment rate in France is higher than that in the United States," or “an increase in government spending would lower the unemployment rate.” Either of these is potentially falsifiable and may be contradicted by evidence. Positive economics as such avoids economic value judgments. For example, a positive economic theory might describe how money supply growth affects inflation, but it does not provide any instruction on what policy ought to be followed. This contrasts with normative economic statements, in which an opinion is given. For example, “Government spending should be increased” is a normative statement.

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1. Positive economics

   Positive economics is the branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause-and-effect behavioral relationships and includes the development and testing of economics theories. Earlier terms were value-free economics and its German counterpart wertfrei economics. Positive economics as science, concerns analysis of economic behavior. A standard theoretical statement of positive economics as operationally meaningful theorems is in Paul Samuelson's Foundations of Economic Analysis. Positive economics as such avoids economic value judgements. For example, a positive economic theory might describe how money supply growth affects inflation, but it does not provide any instruction on what policy ought to be followed. Still, positive economics is commonly deemed necessary for the ranking of economic policies or outcomes as to acceptability, which is normative economics. Positive economics is sometimes defined as the economics of "what is", whereas normative economics discusses "what ought to be". The distinction was exposited by John Neville Keynes and elaborated by Milton Friedman in an influential 1953 essay.

How to pronounce positive economics?

1. Alex

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   David

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   Mark

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   Daniel

   British

   Libby

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   Mia

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   Karen

   Australian

   Hayley

   Australian

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How to say positive economics in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of positive economics in Chaldean Numerology is: 1

2. Pythagorean Numerology

   The numerical value of positive economics in Pythagorean Numerology is: 4

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Positive_Economics
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Positive_Economics
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=positive economics