As a value judgment, normative economics stands in sharp contrast to positive economics, which is objective, rather than subjective in nature. This type of economics looks at 'what is' happening in the economy, and while not necessarily correct, the statements can be evaluated and eventually proven or disproven.
Is 62 the age of a senior citizen? At the age of 62, one can retire with social security benefits within the US, and is considered to be the age of a senior citizen by many organizations. However, the federal gâ¦overnment has determined one who is 65 years of age or older is senior citizen.
There is no set age at which a person is considered a senior in Canada. Generally, for specific purposes the age at which senior discounts start is usually 55. However, for many government benefits you have to be at least 60 or 65 years of age in order to qualify. Most commonly for the purposes of government benefits, the age of qualification for seniorâs benefits is currently 65.