Economic variable: something measurable that can have different values, such as the incomes of doctors. Positive analysis: Analysis concerned with what is. Normative analysis: Analysis concerned with what ought to be. As a social science, economics considers human behavior- particularly decision- making behavior-in every context, not just in the context of business. Positive economic analysis can show the consequences of a particular policy, but it cannot tell us whether the policy is “good” or “bad”…
Words 2215 - Pages 9