Essay on Welfare Economics
In this essay we will discuss about welfare economics. After reading this essay you will also learn about:- 1. Objectives of Welfare Economics 2. The Nature of Welfare Economics 3. Pareto Optimality 4. Implications 5. Limitations. Economics has two major aspects: positive (descriptive-analytical) aspect and normative (welfare) aspect. Positive economics is concerned with the description and analysis of the working [...]