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Question 21 of 35

Q.The process of reasoning from Particular to General is :

(a) Positive economics
(b) Deductive method
(c) Normative economics
(d) Inductive method
Tamil Nadu DgeTamil Nadu HSC First Year (DGE) Commerce Board 2023MCQ· 1mImportance★★★★★
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Reasoning from the particular to the general is the inductive method; the reverse (general to particular) is the deductive method.

Economists use two broad methods of reasoning:

  • Inductive method — starts from particular facts and real-world observations and, by generalising from many such instances, arrives at a general principle or economic law. It is empirical and data-based (for example, observing that many households buy less of a good when its price rises, and generalising this into the law of demand).
  • Deductive method — starts from certain general assumptions or premises and logically works down to particular conclusions. …

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