Positive economic analysis is supposed to be

Question

Quizplus · Accepted Answer

Positive economic analysis is focused on describing and explaining economic phenomena without any subjective value judgments. Its aim is to be neutral, objective, and based on data and evidence, rather than normative or prescriptive. Thus, option B is the best choice. Option A is incorrect because while positive analysis aims to be accurate, it is not always true in an absolute sense. Option C is incorrect because positive analysis does not necessarily have to do with justice or fairness, which are normative concepts. Option D is also incorrect because positive analysis is not concerned with moral and ethical considerations, but rather with empirical observation and analysis.

Positive Economic Analysis Is Supposed to Be