Explain the value of statistics and other data to positive economists and to normative economists.

These economists use statistics in order to find out the aggregate behavior of the people because of a certain economic decisions. From this, they can developed an understanding to explain the economic phenomena.

The normative economists' purpose is to find out whether a certain economic decision achieve its original purpose.

They used statistic as a quantitative measurements. They determine the goals of a certain economic policy and They compared the statistic before the economic policy was implemented to the condition after the implementation .

This will help them know whether the policy achieve its original goals.

For example. if a certain policy was created to reduce unemployment, normative economists will compare the data/statistic about the number of employment before and after the policy.

Martebi Martebi · Answer 2 · 2022-01-20T09:23:17+01:00

There are different use of statistics. How is statistics important for economists is that:

Statistics for economics is based on the use of itself along with the collection, processing, and analysis of some kind of economic data. It is known to helps man to known and analyze economic theories and show the correlations between variables such as demand, supply, price, etc.

Positive Economics are those whose economic behavior is in such a way of describing and explaining economics as it really is. It uses observable data, and no opinion.

Normative Economics is known as the part of economics that uses value judgments about what the economy should be.

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