What is Normative and positive economics?

Normative economics is concerned with what ought to be, or what should be done. It involves making value judgments and recommendations about how resources should be allocated and how economic policies should be implemented. Normative economics is subjective and based on personal beliefs and opinions.

Positive economics, on the other hand, is concerned with what is, or what actually happens in the economy. It involves the analysis of economic phenomena and the development of theories and models to explain and predict economic behavior. Positive economics is objective and based on empirical evidence and data.

In summary, normative economics deals with what should be done, while positive economics deals with what is actually happening.