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Wealth of an Economy

The norms of ...

Question

The norms of behaviours which satisfy the requirements of social rationality of economic activity are established by ________.

A

positive economics

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B

normative economics

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C

business economics

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D

mathematical economics

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Solution

The correct option is C normative economics
Normative economics deals with "what ought to be", i.e, it provides advice. Thus, the norms of behaviours which satisfy the requirements of social rationality of economic activity are established by normative economics.

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