Introduction to Business EconomicsPYQ Jun 24Question 665 of 209
All Questions

Mr. X had been given a task to segregate normative and non-normative statements. Help him to identify which one of these is normative economic statement?

Options

APollution level is rising day by day because of urbanization
BThe part time working hours of students should be increased to 25 hours per week
CDue to the increased number of cars on roads, people will be stuck in traffic jams
DThe government has allotted a major portion of revenue in defense.
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Correct Answer

✅ Option b — The part time working hours of students should be increased to 25 hours per week

All Options:

  • APollution level is rising day by day because of urbanization
  • BThe part time working hours of students should be increased to 25 hours per week
  • CDue to the increased number of cars on roads, people will be stuck in traffic jams
  • DThe government has allotted a major portion of revenue in defense.

About This Chapter: Introduction to Business Economics

Paper

Paper 4: Business Economics

Weightage

5%

Key Topics

Meaning, Scope, Price Mechanism

This chapter lays the groundwork for understanding Business Economics as a discipline. It covers the meaning, scope, and nature of economics — including key distinctions like Microeconomics vs Macroeconomics, Positive vs Normative economics, and the fundamental economic problem of scarcity. Students learn how businesses use economic principles for decision-making in a competitive marketplace.

View Official ICAI Syllabus

Exam Strategy Tip

Focus on definitions and distinctions between concepts. Questions often test whether you understand the difference between Micro and Macro, or Positive and Normative statements.

Related Comparison Tables

Microeconomics vs Macroeconomics: The Complete CA Foundation GuidePositive vs Normative Economics: Fact vs Opinion

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