Question

How does the reading from the Mikado illustrate normative statements? Use specific examples from the reading to illustrate your response.

How did you expectations about the course change as you completed the readings and activities for the week?

Answer 1

Readings from Mikado states what it ought to be which is a normative statement.

Positive economics - deals with facts and figures which can be verified and proof is available. Less chanceses of debate

Normative economics - deals with only view point of economist which says what it ought to be which cannot be validated or supported by any data or facts. Example if I say yellow is better than green, can't be verified. Or say that everyone should receive 3 days week off in a week.