Examlex
Distinguish 'deductive reasoning', 'inductive reasoning' and 'opinion'. What do the terms 'syllogism' and 'generalisation' mean? Give examples of each.
Opportunity Cost
The cost of foregone alternatives, the value of the best alternative given up when a decision is made to choose one option over another.
Ironing
the process of using a heated tool (iron) to remove wrinkles from fabric, typically garments, enhancing their appearance.
Suppliers
Individuals or businesses that provide goods or services to consumers, businesses, or other organizations.
Households
Units of residence in an economy that include all individuals who live together and make joint economic decisions.
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