Normative literally translates to relating or deriving meaning from a standard rule or a behaviour. Thus, normative economics is the part of economics that expresses value or judgments about the outcome of the economy or the goals of a public policy. It is often defined as the art of economics. Concepts like this make economics and business studies interesting as well as exhaustive subjects. The assignments assigned make it tougher even more. Those of you who have taken them as the core subject for higher studies have made a good decision as they will open various windows of opportunities in the corporate world. But it cannot be denied that this subject drains you out physically and mentally.
The assignments are even tougher and escaping the doing of the assignment is not an option available to the students.Thus, it is highly advisable to find a proper help and support in such subjects so that you can excel in studies and grab good grades. The solution to all your problems lies only in one name – EssayCorp. We understand the difficulty faced by students and therefore we provide normative economics assignment help that can help you attain the quality you desire in your assignment.
Difference Between Positive And Normative Economics
A brief explanation on the major difference between positive and normative economics
Positive economics is based on facts and data and is descriptive in nature; whereas normative economics is based on opinion, value, and judgement, it provides perspective and passes value judgement. Positive economics evaluates the cause and effect of a particular economic phenomenon. Positive statement can be verified by the use of scientific methods and it provides an explanation to complex economic problems. Normative economics is the study of what should be and positive economics is the study of what is. Our adept writers can help you with all your questions on this topic, come seek our normative economics assignment help.
The examples of a positive statement can be - the tax levied on tobacco product, if increased, will lead to the reduced revenue for the companies selling tobacco products; if the government cuts the tax collection by 50%, it will lead to the increased disposable income of the people of the country; a fall in the price of alcohol has lead to an increased demand.
Some examples of normative statements are - inflation in an economy is less harmful than unemployment; increasing the minimum wage to $15 will lead to reduction of poverty. For more examples and case study of normative economics you can take the help of the writers of EssayCorp who are professional normative economics assignment help experts.
The nature of the subject causes the most problems for the students. Its convoluted theories and real life application in the business world makes it more of a practical subject than theoretical. Unlike positive economics that is based on facts, normative economics passes normative judgements. The length of the assignments is one other problem that forces the students to procrastinate the assignments on normative economics. The case studies that the student are demanded are no piece of cake either. They require in-depth knowledge of the concepts and the proper experience to effectively practice their application in the case study.
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Identify the main real world demand and supply factors that influence the price of oil, including macroeconomic factors,Use demand and supply diagrams to show examples of how these real world demand and supply factors affect the price of oil.Using real world examples, show how changes in the price of oil affect pricing and costs in road/rail/air transport.
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Write a Report on the given topic and it should address the issues outlined in the marking scheme.Background to the issues well explained, all relevant details provided, good use of data/graphs/tables, tables labeled and numbered properly and referred appropriate in the text.