Question : Normative economics is often based on:

Option 1: Objective analysis and empirical evidence

Option 2: Subjective opinions and personal values

Option 3: Economic theories and models

Option 4: Historical trends and patterns

Question : Positive economics primarily focuses on:

Option 1: Analyzing historical economic data

Option 2: Making policy recommendations

Option 3: Evaluating the ethical implications of economic decisions

Option 4: Describing how the economy functions

Question : Normative economics focuses on:

Option 1: Describing economic theories and models

Option 2: Evaluating the impact of economic policies

Option 3: Predicting future economic trends

Option 4: Analyzing historical economic events

Question : Normative economics relies on:

Option 1: Statistical analysis and econometric models

Option 2: Subjective preferences and personal opinions

Option 3: Economic theories and mathematical equations

Option 4: Historical data and case studies

Question : Normative economics often involves:

Option 1: Empirical research and data analysis

Option 2: Developing economic theories and models

Option 3: Providing value judgments about economic outcomes

Option 4: Historical analysis of economic events