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Economics As Positive Or Normative Science - Economics …

Scientific economics, normally referred to as positive economics, attempts to determine ‘what is’ or ‘what will be’. Positive statements, assertions or theories may be simple or complex, but they are basically about matters of fact. Positive economic statements postulate a relationship that is poten­tially verifiable or refutable. For example:

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Nature of Economics: Economics as a Science and an Art

Posted: (53 years ago) (i) Economics is also a systematic study of knowledge and facts. All the theories and facts related with both micro and macro economics are systematically collected, classified and analyzed. (ii) Economics deals with the correlation-ship between cause and effect.

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Relationship of Economics with Other Subjects

Posted: (53 years ago) Economics and Statistics: One major function of an economist is to conduct research. The job of the company economist is to investigate economic aspects of various decisions Government agencies and private business firms generate a vast array of economic statistics on such matters as income, employment, prices and expenditure patterns.

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Economics as a Social Science (With Diagram)

Posted: (53 years ago) The answer to this question is ‘yes and no’. Economics can never be an exact science, and is a different kind of discipline to, say, physics or chemistry. The essence of science is prediction. Physical ‘laws’ tell us what we believe must happen.

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Job Description: Meaning, Contents, Model and Advantages

Posted: (53 years ago) Job description helps the management in the following: (i) Job grading and classification. (ii) Transfers and promotions. (iii) Adjustments of grievances. (iv) Defining and outlining promotional steps. (v) Establishing a common understanding of a job between employers and employees. (vi) Investigating accidents. (vii) Indicating faulty work procedu...

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Relation of Statistics with other Sciences - Economics Discussion

Posted: (53 years ago) To go for an economic plan in a country, the data about population, consumption, prices, investments, saving, incomes and expenditure has to be known and then analysed for demand forecasting using various statistical methods. A plan cannot be successful if its analysis is not undertaken properly. 3. In the field of Business and Commerce:

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