13 Views

Question : Which of the following is an example of positive economics?

Option 1: The government should regulate monopolistic behavior to protect consumers.

Option 2: Supply and demand determine market prices.

Option 3: Wealth should be redistributed to achieve social equality.

Option 4: Economic policies should prioritize environmental sustainability.


Team Careers360 25th Jan, 2024
Answer (1)
Team Careers360 27th Jan, 2024

Correct Answer: Supply and demand determine market prices.


Solution : The correct answer is (b) Supply and demand determine market prices.

Supply and demand determine market prices is an example of positive economics because it describes an economic relationship based on empirical observation and analysis. The statement highlights the role of supply and demand in determining market prices, which is a fundamental concept in economics that can be studied and understood through observation and data analysis.

Related Questions

Amity University, Noida B.Com...
Apply
Ranked as India’s #1 Not for profit pvt. University by India Today
BFIT Technical Campus Dehradu...
Apply
UGC-approved and NAAC-accredited B.Com program affiliated with HNB Garhwal Central University.
Graphic Era (Deemed to be Uni...
Apply
NAAC A+ Grade | Among top 100 universities of India (NIRF 2024) | 40 crore+ scholarships distributed
Amity University | M.Com Admi...
Apply
Ranked amongst top 3% universities globally (QS Rankings)
Sharda University Admissions ...
Apply
North India's Largest Educational Group | NIRF Ranked 86 | NAAC A+ Grade | Highest Package 1.6 Cr | Scholarships upto 100% | Pay Rs.500 instead of ...
UPES Dehradun | B.Com Admissi...
Apply
#41 in NIRF | Highest Package 1.3 CR, Ranked #1 in Academic Reputation in India by QS World University Rankings
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books