Question

Which of the following is the study of “what is” rather than “what ought to be”?...

Which of the following is the study of “what is” rather than “what ought to be”?

Group of answer choices

institutionalism

positive theory

normative theory

subjectivism

Business   Economics   
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Homework Answers

Answer #1

Answer b :- Option 'b' is the correct Answer

positive economics is the study of "what is" rather than "what ought to be".

Positive economics is the scientific study of "what is" among economic relationships.

Positive economics means "what is" facts, claims objectivity, scientific work. World as it is. For example : rise in average temp will increase the use of sun products.

While Determining "what ought to be" in the economy is considered normative economics.

An editorial in a newspaper calling for the government to abolish the minimum wage because it takes advantage of consumers is an example of a normative economic statement.

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