Question : Positive economics primarily focuses on:
Option 1: Analyzing historical economic data
Option 2: Making policy recommendations
Option 3: Evaluating the ethical implications of economic decisions
Option 4: Describing how the economy functions
Correct Answer: Describing how the economy functions
Solution : The correct answer is (d) Describing how the economy functions.
Positive economics primarily focuses on describing how the economy functions by analyzing economic data and facts. It aims to provide objective analysis and understanding of economic phenomena, including the relationships between various economic variables and the behavior of economic agents. Positive economics seeks to explain economic phenomena based on observable evidence and data, without making value judgments or prescribing specific policies.
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