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Question : Normative economics deals with:

Option 1: Economic data analysis

Option 2: Objective and value-free analysis

Option 3: Economic policies and ethical judgments

Option 4: Economic theories and models


Team Careers360 22nd Jan, 2024
Answer (1)
Team Careers360 23rd Jan, 2024

Correct Answer: Economic policies and ethical judgments


Solution : The correct answer is (c) Economic policies and ethical judgments.

Normative economics deals with the formulation and evaluation of economic policies, as well as making ethical judgments about economic outcomes. It involves analyzing economic issues from a normative or prescriptive perspective, considering subjective values and goals. Normative economics aims to provide recommendations or judgments on what should or ought to be done in the economic sphere.

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