Question

In the following Question, read the following statements and choose the correct alternative:

Statement 1: Positive economics statements are statements of truth.

Statement 2: Positive economics aims to make real description of an economic activity.

Options

• Both the Statements are true.

• Both the Statements are false.

• Statement 1 is true and Statement 2 is false.

• Statement 2 is true and Statement 1 is false.

Answer 1

Statement 2 is true and Statement 1 is false.

Explanation:

 Positive statements describe economic activity and can be tested against facts, but they are not necessarily true; they may be true or false.