Explanation
Positive science describes the matter of the presence of the subject with proven facts and figures which is based on repeated observation. Therefore, they possess the feature of cause and effect where all variables yield the same result on experimenting them.
A normative statement explains what should be base of the subject according to the belief through valued judgement that describes the fairness of the subject on public policy. Therefore, if government ought to guarantee that our income will not fall it is on the belief that it will benefit every individual in the society.
A normative statement explains what should be base of the subject according to the belief of humans through valued judgement that describes the fairness of the subject on public policy. It analyses human behaviour on various factors that prevails in the economy and derive a subject by that.
Positive science and pure science describes the matter of the presence of the subject with proven facts and figures with careful observations that does not contains valued judgement i.e. dos and don'ts for social welfare.
Positive science defines economics as the study of setting up an effective relationship between human wants and scarce means to maximize the satisfaction of most of the unlimited wants in the economy. Therefore, it described economics as neutrality between various wants in the economy as it studies and solves the problem of scarcity
Positive science describes the matter of the presence of the subject with proven facts and figures with careful observations that does not contains valued judgement i.e. dos and don'ts for social welfare.
Positive science describes the matter of the presence of the subject with proven facts and figures with careful observations and repeated experiments that does not contains valued judgement i.e. does and does not for social welfare.
Normative aspect explains what should be base of the subject according to the belief of individuals through valued judgement that describes the fairness of the subject on public policy which aims at social welfare. Therefore, any opinion or judgement like how national income should be distributed is considered as normative because it is solved on the belief that it will bring welfare for the society in whole.
Normative science explains what should be base of the subject according to the belief through valued judgement that describes the fairness of the subject on public policy which aims at social welfare. Therefore, making welfare propositions are a part of social welfare that involves valued judgement and beliefs.
Positive statements describes the matter of the presence of the subject with proven facts and figures that needs to be taken into account before developing a subject. Therefore, theories of any law are backed by various proven facts that are based on repeated experiments which makes it positive statements.
Alfred Marshall was a British economist who proposed the definition of welfare according to which economics is a science of creation of welfare for both human as well as society in which he emphasized on the betterment of the society by the humans and betterment of humans by the society. Therefore, these definition was derived on the basis of valued judgement that aimed at economic welfare due to which it is also known as normative economics.
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.
Production possibility curve shows all different attainable combinations of the production of two commodities that can be produced in an economy with given the resources i.e both material and labour and technology which are assumed to be constant and fully utilized.
The slope of production possibility curve is marginal opportunity cost which refers to the additional sacrifice that a firm makes when they shift resources and technology from production of one commodity to the other. Therefore, if marginal opportunity cost remains constant then PPC will be a straight line owing to constant slope.
In a market economy, an effective relationship is set up between all the factors that are involved in the market like consumer, producer, and labour where their decision are reconciled to decide the price of various related commodities. In a mixed economy, private decisions are intervened by the government due to which there is problem in market mechanism where prices of a commodity is decide by the forces of demand which involves consumers and supply which involves producers and labours. Normative economics is concerned with value judgements , so B ans C is correct.
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