Economics which is concerned with welfare proposition is calleda)Socialistic economicsb)Capitalistic economicsc)Positive economicsd)Normative economicsCorrect answer is option 'D'. Can you explain this answer?

Question

Answer

Answer is (a)

Answer

Normative Economics

Normative economics is a branch of economics that is concerned with welfare propositions. It is a subjective approach towards economics that is based on value judgments and opinions. Normative economics is also known as prescriptive economics because it prescribes what ought to be done rather than what is happening in the real world. It is concerned with what should happen in the economy, rather than what is currently happening.

Characteristics of Normative Economics

1. Subjective Approach: Normative economics is a subjective approach as it is based on value judgments and opinions.

2. Prescriptive Nature: It is also known as prescriptive economics because it prescribes what ought to be done.

3. Involves Value Judgments: Normative economics involves value judgments and opinions about what is good or bad for the society.

4. Deals with Policy Issues: Normative economics is concerned with policy issues and the role of government in shaping the economy.

Examples of Normative Economics

1. Should the government increase taxes on the wealthy?

2. Should the government provide free healthcare to all citizens?

3. Should the minimum wage be increased?

Conclusion

Normative economics is an important branch of economics that deals with welfare propositions. It is based on subjective value judgments and opinions about what is good or bad for the society. Normative economics is concerned with policy issues and the role of government in shaping the economy. It prescribes what ought to be done in the economy, rather than what is currently happening.

Answer

Correct is A

Answer

I think A is correct!

Answer

I also think A Is correct ans

Answer

Correct answer is D because normative economics involves in evaluating the things which are good or bad for the welfare of the people. Positive economics deals with the descriptive fact. Socialist is firm are controlled by the state. Capitalist is controlled by privately

Answer

A

Answer

D is correct answer because  normative economics focuses on future

Answer

Correct answer A there are many wrong answers in this app

Answer

D

Answer

C

Answer

Answer is A
because socialist means the system under which economic system is controlled and regulated by the government so as to ensure welfare and equal opportunity to a people in a society.

Answer

D
Normative economics is concerned with welfare propositions, since what is good or what is bad ultimately depends upon the welfare of the individual and the society.

Similar CA Foundation Doubts

Economics which is concerned with welfare propositions is called.

Economic which is concerned with welfare proposition is called socialist economy capitalistic positive economy normative economy?

Economics which is concerned with welfare propositions is called ? a. Socialist economics b. Capitalist econonics c. Positive economics d. Normative economics?

Find the odd—

Can you explain the answer of this question below:Increasing returns to scale can be explained in terms of:A:External and internal economiesB:External and internal dis economiesC:External economics and internal dis economiesD:All of theseThe answer is a.

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