Question : Positive economics involves:
Option 1: Assessing the impact of economic policies on societal well-being
Option 2: Conducting experiments to test economic theories
Option 3: Evaluating the ethical implications of economic decisions
Option 4: Analyzing economic data to understand cause and effect relationships
Correct Answer: Analyzing economic data to understand cause and effect relationships
Solution : The correct answer is (d) Analyzing economic data to understand cause and effect relationships.
Positive economics involves analyzing economic data to understand cause and effect relationships. It focuses on providing objective analysis and understanding of how the economy functions based on empirical evidence and data. Positive economics aims to describe and explain economic phenomena by examining observable data, identifying patterns, and establishing causal relationships between economic variables.
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