Question
Economics Question on Economics and economic theories
Which statement is not related to Normative Economics?
A
It prescribes norms of welfare of the society
B
It regulates in order to achieve idealised norms
C
It explains ideal situation and gives policy prescriptions explicitly
D
It explains actual behavior of economic agents
Answer
It explains actual behavior of economic agents
Explanation
Solution
The Correct Option is (D): It explains actual behavior of economic agents