Normative aspect of Economics is given by: a. Marshall b. Robbins c. Adam Smith d. Samuelson
Understand the Problem
The question is asking about which economist is associated with the normative aspect of Economics, indicating a search for knowledge on economic theories and contributions of these economists.
Answer
Alfred Marshall
The final answer is Alfred Marshall.
Answer for screen readers
The final answer is Alfred Marshall.
More Information
Alfred Marshall emphasized the welfare aspect of economics, suggesting that economics should focus on improving human welfare. This aligns with normative economics, which involves value judgments and recommendations for economic policy.
Tips
A common mistake is to confuse positive and normative economics. Positive economics deals with 'what is,' whereas normative economics deals with 'what ought to be.'
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