Question : Assertion: Positive economics focuses on objective analysis and the description of how the economy works.
Reason: Positive economics seeks to explain economic phenomena without making value judgments.
Option 1: Both the assertion and reason are true, and the reason is a correct explanation of the assertion.
Option 2: Both the assertion and reason are true, but the reason is not a correct explanation of the assertion.
Option 3: The assertion is true, but the reason is false.
Option 4: The assertion is false, but the reason is true.
Correct Answer: Both the assertion and reason are true, and the reason is a correct explanation of the assertion.
Solution : The correct answer is (a) Both the assertion and reason are true, and the reason is a correct explanation of the assertion.
The assertion is true. Positive economics is an approach to economics that seeks to understand and explain economic phenomena based on objective analysis, empirical evidence, and data. It aims to provide descriptive explanations of economic behavior and outcomes, without incorporating personal values or making normative judgments.
The reason provided is a correct explanation of the assertion. Positive economics aims to be value-free and objective, focusing on the analysis and explanation of economic behavior and outcomes based on facts and evidence. It does not involve subjective judgments or normative statements about what should or should not be.
Therefore, the correct answer is Both the assertion and reason are true, and the reason is a correct explanation of the assertion.
Question : Assertion: Positive economics focuses on objective analysis based on data and facts.
Reason: Positive economics is value-laden and incorporates subjective judgments.
Question : Assertion: Normative economics is concerned with making value judgments about what should be done in the economy.
Reason: Normative economics is based on objective analysis and empirical evidence.
Question : Assertion: Normative economics involves subjective judgments about what the economy should be like.
Reason: Normative economics aims to prescribe how resources and wealth should be distributed in society.
Question : Assertion: Macroeconomics focuses on the overall performance and behavior of the economy as a whole.
Reason: Macroeconomics examines aggregate variables such as inflation, unemployment, and economic growth.
Question : Assertion: The marketing concept focuses on the long-term satisfaction of customer needs.
Reason: The marketing concept aims to maximize short-term profits.
Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.
Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.
Option 3: Assertion is true, but the reason is false.
Option 4: Assertion is false, but the reason is true.
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