The phrase refers to Normative Economics, which involves value judgments and opinions rather than factual data. This branch of economics focuses on what the goals of economic policy should be, making it subjective and value-based.
A boy goes to school at 12 km/Hr and return at a speed of 11 km/hr. If he takes 23 hrs in all. Find the distance from his village to school?
Suniti goes to gym at a speed of 3 km/hr and returns back at a speed of 5 km/hr. If she takes 8 hrs in all. Find the distance between her home and gym.
If a man covers a distance in 1 hour, walking at a speed of 5 km/hr, how long will it take him to cover 15 km?