[amp_mcq option1=”deductive method” option2=”inductive method” option3=”experimental method” option4=”None of the above” correct=”option1″]<\/p>\n
The correct answer is: A. deductive method.<\/p>\n
Deductive reasoning is a logical process in which a conclusion is based on the premises that are assumed to be true. In economics, deductive reasoning is often used to make predictions about the future. For example, if we know that the demand for a good is inversely related to its price, we can deduce that if the price of a good goes up, the demand for that good will go down.<\/p>\n
Inductive reasoning is a logical process in which a conclusion is based on evidence that is observed. In economics, inductive reasoning is often used to make generalizations about the economy. For example, if we observe that the unemployment rate has been going up in recent months, we might induce that the economy is in a recession.<\/p>\n
The experimental method is a scientific method in which a hypothesis is tested by conducting an experiment. In economics, the experimental method is often used to test the effects of economic policies. For example, if we want to test the effect of a tax cut on economic growth, we might conduct an experiment in which we randomly assign some people to receive a tax cut and others to not receive a tax cut. We would then compare the economic growth of the two groups to see if the tax cut had an effect.<\/p>\n
In conclusion, the correct answer to the question “Reasoning from the general to the particular’ in Economics is called: A. deductive method.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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