Importance Of Positive And Normative Economics, Can You Help?

Normative economics deal with the judgemental economics to provide benchmarks to the policy implementars. These include judgements or idealistic scenerios. The example of normative economics would be that price of milk per liter should be $45, interest rates should be 7% on the mortagages etc. These statements might differ in reality and serve as a bench market for the others to give indication about what the real scnerio should be. Normative economics is usually compared with positive economics. Positive economics present real facts and statements such as price of milk is $35 liters, interest rates are 4% etc. Positive economics presents the real picture of the economy whereas normative economics deal with the idealistic scenerio.