Nature and Scope of Economics
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Questions and Answers

What is the nature of Economics according to the text?

  • Neither an art nor a science
  • Purely a science
  • Both an art and a science (correct)
  • Purely an art

    • How does Economics as a Science classify the relationship between cause and effect?

  • It deals with both positive and normative science (correct)
  • It does not deal with any kind of science
  • It only deals with normative science
  • It only deals with positive science

    • What does positive science in economics deal with?

  • Classifying and analyzing data systematically
  • The relationship between cause and effect by scientifically analyzing the problem (correct)
  • Establishing the nature and scope of Economics
  • Prediction of the future

    • What is the focus of normative science in economics?

    <p>Prediction of the future</p> Signup and view all the answers

    What is the main characteristic of Science according to the text?

    <p>Based on systematic study of knowledge or facts</p> Signup and view all the answers

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