One Common Form of Oversimplification Is Argument by Anecdote

question 96

Essay

One common form of oversimplification is argument by anecdote. Explain this type of critical thinking error. Create your own example of an argument by anecdote.

---

Definitions:

Premium Price

A price that is higher than the regular or standard price, often associated with goods of higher quality or insurance costs.

Forward Rate

is a financial term referring to a predetermined interest rate or currency exchange rate agreed upon for a transaction that will occur at a future date.

Discount

A reduction from the usual cost of something or the process of determining the present value of future cash flows.

Political Risk

In international business, the chance that the value of a firm’s investment in a foreign country will be reduced by political actions of either the foreign government or terrorists.