Economics

• Market economies - where decisions about production and pricing are made by businesses and consumers
• Command economies - where the government makes these decisions
• Mixed economies - which combine aspects of market and command economies
• Positive economics involves a statement or theory that can be tested and backed up with evidence.eg "The unemployment rate in country X is 7%."
• Normative economics involves statements that express an opinion or a what should be perspective

  eg the government of country X should do more to decrease the unemployment rate