Correct
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Solution:
The correct answer is (A) Normative Economics.
Normative economics is concerned with value judgments and opinions about what ought to be, rather than what is. It deals with the welfare proposition, which involves recommendations about policies or decisions based on subjective criteria that are designed to improve social welfare or economic outcomes.
Positive economics, on the other hand, deals with factual statements about what is and what has been, rather than what ought to be. It is concerned with the analysis of economic phenomena and the development of theories that can be tested against empirical evidence.
Option (C) is incorrect because positive economics does not deal with the welfare proposition, which is the concern of normative economics. Option (D) is also incorrect because normative economics is a valid field of study within economics.
Correct option is (a)