Question : Positive economics is based on:
Option 1: Subjective opinions and personal values
Option 2: Objective analysis and empirical evidence
Option 3: Speculative future predictions
Option 4: Political ideologies
Correct Answer: Objective analysis and empirical evidence
Solution : The correct answer is (b) Objective analysis and empirical evidence.
Positive economics is based on objective analysis and empirical evidence. It aims to provide a scientific and data-driven understanding of how the economy functions by analyzing economic data and facts. Positive economics seeks to describe and explain economic phenomena based on observable evidence, rather than subjective opinions, personal values, speculative predictions, or political ideologies.
Related Questions
Trending Articles/News
