Postive and normative economics exercise

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Postive and normative economics exercise

  1. 1. ECON1 WWW.AQUINASECONOMICSAS.CO.UK @AQUINASECONOMIC Positive and Normative Answer all the questions below 1. Explain what is meant by Positive Economics 2. Explain what is meant by Normative Economics 3. Name and briefly explain the three types of economic model 4. Define Microeconomics 5. Define Macroeconomics

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