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

positive

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normative

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both (a) and (b)

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neither (a) nor (b)

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Solution

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.

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Similar questions

Q. While dealing with issues like how the national income should be distributed, what should be the wage rate, etc. the __________ aspect of economics is projected and brought out.

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Experts please can I get a help for my economics project .

Topics are -

1) make a list of products for weight you think demand in price inelastic and price elastic . Specifying the reason you may think relevant for your analysis.

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Q. Which of these is a law of economics?

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