xplain the difference between positive and normative economics and how this affects ethical decision making

Course learning objective #5; Explain the difference between positive and normative economics and how this affects ethical decision making

Briefly define the following two terms in your own words:

Positive economics

Normative economics

For the sake of argument (and this assignment) assume that global warming is a fact, caused by human activity, and that it can be fixed by taxing producers for the amount of carbon they release. The problem is that this tax would greatly increase costs for everyone.

How would this situation be described in terms of Positive economics?

How would this situation be described in terms of Normative economics?

Which of these do you think is the correct way to describe this situation and why?

A minimum of 800 words total is required in defining the terms and supporting your answers to the questions

It is a violation of Herzing’s Academic Dishonesty policy to copy and paste any information from any source. You may also NOT copy and paste and provide a citation; all work is expected to be fully paraphrased and written in your own words so that you demonstrate a clear understanding of the material. Violation of this policy will result in an F for the assignment and submission of your assignment to the University for investigation

In addition, it should be written well using correct grammar, and references need to be properly APA formatted

Upload your Microsoft Word document here

Please refer to the grading rubric

30/30 points          Justification, thoroughness, and accuracy of answers (research, opinion, point articulation, support of your answer)

30/30 points          Critical thinking and analysis; (comprehensive demonstration of analytical and cognitive thinking skills)

20/20 points          Spelling, grammar, formatting (typos, grammar style, tone, flow, title page, reference formatting)

80/80 Total points

30-27     Outstanding

24-26     Superior

21-23     Competent

18-20     Marginal

0-17        Ineffective