Commerce Exam > Commerce Questions > Normative economics analysesa)The problem of ...
Start Learning for Free
Normative economics analyses
- a)The problem of What to produce
- b)Ethical aspects of economic decisions
- c)Distribution of national product
- d)Central problems of an economy
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Normative economics analysesa)The problem of What to produceb)Ethical ...
Normative economics is a part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be.
Most Upvoted Answer
Normative economics analysesa)The problem of What to produceb)Ethical ...
Explanation:
Normative economics primarily focuses on the ethical aspects of economic decisions. Here's a detailed explanation:
Ethical aspects of economic decisions:
Normative economics deals with how economic decisions should be made based on ethical considerations rather than just focusing on what currently exists. It involves evaluating different economic policies and decisions in terms of their ethical implications and societal welfare.
Value judgments:
Normative economics involves making value judgments about what is considered fair, just, or morally right in economic decision-making. For example, it may assess whether a particular distribution of income is equitable or whether a policy benefits society as a whole or only a specific group.
Policymaking:
Normative economics plays a crucial role in policymaking by providing guidance on how resources should be allocated, what policies should be implemented, and how to achieve certain social goals. It helps policymakers evaluate the impact of different policy options on various stakeholders and make decisions that align with ethical principles.
Social welfare:
Normative economics aims to improve social welfare by advocating for policies that promote the well-being of the society as a whole. It considers issues such as income inequality, poverty alleviation, environmental sustainability, and social justice in economic decision-making.
In conclusion, normative economics goes beyond analyzing the central problems of an economy and delves into the ethical dimensions of economic choices, emphasizing the importance of making decisions that align with ethical principles and promote societal welfare.
Normative economics primarily focuses on the ethical aspects of economic decisions. Here's a detailed explanation:
Ethical aspects of economic decisions:
Normative economics deals with how economic decisions should be made based on ethical considerations rather than just focusing on what currently exists. It involves evaluating different economic policies and decisions in terms of their ethical implications and societal welfare.
Value judgments:
Normative economics involves making value judgments about what is considered fair, just, or morally right in economic decision-making. For example, it may assess whether a particular distribution of income is equitable or whether a policy benefits society as a whole or only a specific group.
Policymaking:
Normative economics plays a crucial role in policymaking by providing guidance on how resources should be allocated, what policies should be implemented, and how to achieve certain social goals. It helps policymakers evaluate the impact of different policy options on various stakeholders and make decisions that align with ethical principles.
Social welfare:
Normative economics aims to improve social welfare by advocating for policies that promote the well-being of the society as a whole. It considers issues such as income inequality, poverty alleviation, environmental sustainability, and social justice in economic decision-making.
In conclusion, normative economics goes beyond analyzing the central problems of an economy and delves into the ethical dimensions of economic choices, emphasizing the importance of making decisions that align with ethical principles and promote societal welfare.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Top Courses for CommerceView all
Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer?
Question Description
Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer?.
Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Normative economics analysesa)The problem of What to produceb)Ethical aspects of economic decisionsc)Distribution of national productd)Central problems of an economyCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up
within 7 days!
within 7 days!
Takes less than 10 seconds to signup