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Wealth of an Economy

Economics is ...

Question

Economics is a _______ science that explains "what ought to be".

A

positive

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B

normative

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C

both (a) and (b)

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D

neither (a) nor (b)

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Solution

The correct option is D normative
A subject as a normative science explains what 'ought to be'. It deals with value judgements and opinions.It does not explain 'what is' the issue. It deals with 'what should have been the issue'.

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