Question

9. Normative economics deals with:
(a) facts
(c) both (a) and (b)
(b) opinions
(d) none of these
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Answer 1

Answer:

c) both (a) and (b)

Answer 2

Answer:

(b) opinion

Normative economic deals with opinions

Explanation:

Normative economic deals with opinions

• It focuses on the economic fairness
• What the economy "should be " and "ought to be"
• It is subjective and the value - based originating from personal perceptives or opinions involved in decision making process