Question : Positive economics aims to be:
Option 1: Objective and value-free
Option 2: Subjective and value-laden
Option 3: Ethically driven and value-oriented
Option 4: Theoretical and abstract
Correct Answer: Objective and value-free
Solution : The correct answer is (a) Objective and value-free.
Positive economics aims to be objective and value-free. It focuses on the analysis of economic phenomena based on empirical data and facts, without incorporating personal values, opinions, or ethical considerations. Positive economics seeks to provide descriptive and explanatory analysis of how the economy functions, how economic agents behave, and the cause-and-effect relationships between economic variables. It aims to provide theories, models, and hypotheses that can be tested and verified using empirical evidence.
