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Economics which is concerned with welfare proposition is called
- a)Socialistic economics
- b)Capitalistic economics
- c)Positive economics
- d)Normative economics
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Economics which is concerned with welfare proposition is calleda)Socia...
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.
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.
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Community Answer
Economics which is concerned with welfare proposition is calleda)Socia...
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
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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?
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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? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about 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? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?.
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? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about 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? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 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?.
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