Question : Positive economics seeks to:
Option 1: Advocate for specific economic policies
Option 2: Assess the desirability of economic outcomes
Option 3: Describe and explain economic phenomena
Option 4: Make normative judgments based on personal values
Correct Answer: Describe and explain economic phenomena
Solution : The correct answer is (c) Describe and explain economic phenomena.
Positive economics seeks to describe and explain economic phenomena through the analysis of economic data and facts. It focuses on providing objective analysis and understanding of how the economy functions. Positive economics aims to identify and analyze cause-and-effect relationships, examine economic behavior, and provide insights into economic outcomes based on empirical evidence and data.
Related Questions
Trending Articles/News
