ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Reasoning is using the facts and figures in front of you to make decisions. Reasoning has its roots in the here-and-now, and in facts. It can, however, ignore emotional aspects to the decision, and in particular, issues from the past that may affect the way that the decision is implemented.

Detailed explanation-2: -Four types of reasoning will be our focus here: deductive reasoning, inductive reasoning, abductive reasoning and reasoning by analogy.

Detailed explanation-3: -Deductive reasoning is a logical approach where you progress from general ideas to specific conclusions. It’s often contrasted with inductive reasoning, where you start with specific observations and form general conclusions. Deductive reasoning is also called deductive logic or top-down reasoning.

Detailed explanation-4: -What’s the difference between inductive and deductive reasoning? Inductive reasoning is a bottom-up approach, while deductive reasoning is top-down. Inductive reasoning takes you from the specific to the general, while in deductive reasoning, you make inferences by going from general premises to specific conclusions.

Detailed explanation-5: -Logically Sound Deductive Reasoning Examples: All dogs have ears; golden retrievers are dogs, therefore they have ears. All racing cars must go over 80MPH; the Dodge Charger is a racing car, therefore it can go over 80MPH. Christmas is always Dec. 25th; today is Dec. 25th, therefore it’s Christmas.