Positive economics

Positive economics is a type of science that helps us understand things that happen in the world around us. Think of it as trying to solve a puzzle by collecting and analyzing clues.

In positive economics, we try to look at facts and data to understand how things work. We don't try to make judgments whether things are good or bad, but rather we try to describe things as they are.

For example, if we look at the price of a candy bar, we try to understand the factors that influence its price, such as the cost of raw materials, transportation, and labor. We don't make a judgment about whether the price is too high or too low; we simply describe the price based on the facts.

Positive economics helps us make better decisions by providing us with a better understanding of how the world works. By collecting data and analyzing it, we can make predictions about what will happen in the future and make informed decisions based on those predictions.

So, positive economics is like solving a puzzle by finding clues and it helps us understand how things work in the world around us.