Question

While laying down theories (like law of demand, law of supply), the __________ aspect of economics is projected and brought out.

• A. positive
• B. normative
• C. both (a) and (b)
• D. neither (a) nor (b)

Answer 1

The correct option is A positive

Positive statements describes the matter of the presence of the subject with proven facts and figures that needs to be taken into account before developing a subject. Therefore, theories of any law are backed by various proven facts that are based on repeated experiments which makes it positive statements.