Identify the correct statement(s) about normative economics.

It is descriptive

No worries! We‘ve got your back. Try BYJU‘S free classes today!

It is prescriptive

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

It tries to explain the world

No worries! We‘ve got your back. Try BYJU‘S free classes today!

It tries to improve the world

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct options are
B
It is prescriptive

D
It tries to improve the world

Normative economics is prescriptive. Instead of just describing how the world works, normative economics prescribes actions or solutions to make the world/economy better.

Suggest Corrections

Similar questions

What is "normative economics" ?

Join BYJU'S Learning Program