Positive and normative economics class 11 notes are presented in this post. These notes give a wholesome definition of what Positive and normative economics in economics are. These notes enhance concentration and attention to detail. Actively encourages learning. Improves retention and comprehension. Teaches how to prioritise. Increases capacity for focus. Enhances organisational abilities. Enhances imagination. As a result, they offer an opportunity to comprehend and summarise the ideas.
Positive Economics
Positive Economics manages “things as they are.” Positive economics focuses on the issues that everyone must face. Positive Economics manages monetary issues and their solutions.
- For instance, India has too many people, and its costs keep increasing.
- Positive economics depict what was and will, without a doubt, be under the conditions.
- There are no good decisions made on these assertions.
- As regards extreme ends, positive economics remains strictly neutral. It avoids financial decisions.
- Proclamations of truth should not be confused with positive economic explanations. They might be accurate or not.
- The point that stands out is that real and contrasted information can be used to determine whether or not positive assertions are true.
Normative economics
“What should be” is what normative economics tells us. What should be or how the financial issues should be handled is managed by normative economics.
- For instance, India shouldn’t have too many people or have rising prices.
- It discusses what is beneficial and should be acknowledged and what is undesirable and should be avoided. It provides options for esteem-related decisions.
Conclusion
Positive and normative economics class 11 notes give a general as well as a specific sense of understanding of the concept. These notes are essential for reviewing and studying class material for better comprehension and exam preparation. Using these notes, which are effective and concise, you can save time, energy, and confusion that frequently results from attempting to make sense of unorganized, overwhelming, inadequate, or wordy notes. These notes can be very helpful when making outlines and studying.