Economics is a _________
pure science
physical science
social science
natural science
The Scientific way of analyzing economics is known as ____
normative
positive
inductive
deductive
The method of deriving theories arrived by logical reasoning is known as
inductive method
deductive method
indicative method
none of these
In deductive method, logic process from
particular to general
particular to the whole
general to particular
whole to the particular
Economics uses the following methods for scientific analysis.
hypothesis test
laboratory analysis
excavations
The book gave a detailed assessment of great depression
wealth of nations
principles of economics
macro economics
General theory of employment interest and money.
Normative economics involves:
cause and effect relationship
fact and figures
1 and 2
value judgement
Prof . Lionel Robbins was a strong supporter of
positive economics
normative economics
a and b
Most of the economic laws are based on
precision
universally applicable principles
assumptions
Micro economics deals with
space studies
community studies
economy study
individual economic behavior
