Question : Assertion: Positive economics focuses on objective analysis based on data and facts.
Reason: Positive economics is value-laden and incorporates subjective 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: The assertion is true, but the reason is false.
Solution : The correct answer is (c) The assertion is true, but the reason is false.
The assertion is true. Positive economics aims to provide an objective understanding of economic phenomena through the analysis of empirical evidence and factual data. It seeks to describe and explain economic behavior and relationships without incorporating personal values, opinions, or subjective judgments.
The reason provided, is incorrect. Positive economics specifically aims to be value-free and objective. It focuses on empirical analysis and does not incorporate subjective judgments or personal values. Positive economics seeks to provide theories, models, and hypotheses that can be tested and verified using empirical evidence, allowing for objective analysis of economic phenomena.
Therefore, the correct answer is (c) The assertion is true, but the reason is false.
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.
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: The marketing concept emphasizes understanding and meeting customer needs.
Reason: The marketing concept solely focuses on maximizing 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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