Charlotte Had Seen Many Beautiful Diamonds Before but She Had

question 91

Multiple Choice

Charlotte had seen many beautiful diamonds before but she had never seen a purple diamond. Therefore Charlotte reasoned that purple diamonds do not exist. Charlotte's reasoning may be in error because it leads to a likelihood rather than a certainty. This is called ______________ reasoning.

• A)inductive
• B)deductive
• C)divergent
• D)convergent

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Definitions:

Price

The amount of money required to purchase a good or service, often determined by the interaction of supply and demand.

Quantity Tax

A tax that is levied on a per unit basis, meaning a specified amount is charged for each unit of a good or service sold.

Competitive Suppliers

Entities that compete in a market to offer goods or services, often leading to lower prices and higher quality.

Price Paid

The actual amount of money exchanged for a good or service at the point of sale.