Question:
What is Normative Economics?
What is Normative Economics?
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Normative economics focuses on what should be, based on personal opinions and values.
Updated On: Nov 5, 2025
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Solution and Explanation
Normative economics involves value judgments and opinions about what ought to be, and it is concerned with issues of fairness, equality, and the welfare of society. It suggests what should be done based on subjective views.
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