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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.
Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false .
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'D'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A)...
Normative economics is a perspective on economics that reflects normative, or ideologically prescriptive judgments toward economic development, investment projects, statements, and scenarios.
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Directions : In the following questions, a statement of Assertion (A)...
Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.
Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.
To understand why the correct answer is option 'D', let's break down the assertion and reason separately:
Assertion (A): Madan bought two kg of mangoes as it was cheaper.
This statement describes an economic decision made by an individual, Madan. Madan chose to buy two kilograms of mangoes because they were cheaper. This decision is based on the principle of cost-effectiveness, where individuals seek to maximize their utility by purchasing goods or services at a lower cost. However, this statement does not involve any moral or ethical judgment regarding the economic event.
Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.
Normative economics is a branch of economics that deals with subjective opinions and judgments about what should be, rather than what is. It involves assessing economic events based on moral, ethical, and value-based criteria. Normative economics seeks to answer questions about what policies or actions are desirable or good for society. However, in the given scenario, Madan's decision to buy cheaper mangoes does not involve any moral or ethical judgment. It is simply a rational choice based on cost-effectiveness.
Explanation:
The correct answer is option 'D' because while both Assertion (A) and Reason (R) are true, Reason (R) does not provide a correct explanation of Assertion (A). The reason states that the given scenario is an example of normative economics, which is incorrect. Madan's decision is a descriptive statement based on cost-effectiveness, which falls under positive economics (examining what is) rather than normative economics (examining what should be).
In conclusion, Madan's decision to buy two kg of mangoes because they were cheaper is not an example of normative economics. It is a rational decision based on cost-effectiveness, which falls under positive economics.
Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.
To understand why the correct answer is option 'D', let's break down the assertion and reason separately:
Assertion (A): Madan bought two kg of mangoes as it was cheaper.
This statement describes an economic decision made by an individual, Madan. Madan chose to buy two kilograms of mangoes because they were cheaper. This decision is based on the principle of cost-effectiveness, where individuals seek to maximize their utility by purchasing goods or services at a lower cost. However, this statement does not involve any moral or ethical judgment regarding the economic event.
Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.
Normative economics is a branch of economics that deals with subjective opinions and judgments about what should be, rather than what is. It involves assessing economic events based on moral, ethical, and value-based criteria. Normative economics seeks to answer questions about what policies or actions are desirable or good for society. However, in the given scenario, Madan's decision to buy cheaper mangoes does not involve any moral or ethical judgment. It is simply a rational choice based on cost-effectiveness.
Explanation:
The correct answer is option 'D' because while both Assertion (A) and Reason (R) are true, Reason (R) does not provide a correct explanation of Assertion (A). The reason states that the given scenario is an example of normative economics, which is incorrect. Madan's decision is a descriptive statement based on cost-effectiveness, which falls under positive economics (examining what is) rather than normative economics (examining what should be).
In conclusion, Madan's decision to buy two kg of mangoes because they were cheaper is not an example of normative economics. It is a rational decision based on cost-effectiveness, which falls under positive economics.
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. 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 Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer?.
Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. 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 Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer?.
Solutions for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Madan bought two kg of mangoes as it was cheaper. This is an example of Normative Economics.Reason (R): Normative economics examines real economic events from moral and ethical angles and judges whether certain economic events are desirable or not.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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