Reena told her classmate that “India comprises of 138 crores of people”. According to you, the statement falls under which of the following options?
Answer & explanation
Correct answer: option 2
The correct answer is option 3: Positive economics
The statement "India comprises of 138 crores of people" is a factual statement providing information about the population of India. It does not involve any value judgments or opinions. Therefore, it falls under the category of: Positive economics
Explanation:
- Positive economics deals with describing and explaining economic phenomena as they are, without making value judgments or stating what should be.
- It focuses on objective analysis based on observable facts and data.
- The statement provided simply presents a fact about the population of India without expressing any opinion or normative judgment, making it an example of positive economics.