Determine Whether the Type of Reasoning Used Is Inductive or Deductive

question 11

Multiple Choice

Determine whether the type of reasoning used is inductive or deductive reasoning.
Victor has already lost 3 cameras. He didn't spend a lot of money on his newest camera because he
Knows he'll eventually lose that one too.

• A)inductive reasoning
• B)deductive reasoning

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Definitions:

Two Goods

A reference to two distinct products or commodities in economic analysis, often used in discussions of consumer choice and preference.

World Price

The price at which goods are traded internationally, determined by supply and demand in the global market.

Domestic Price

Domestic price is the price of a good or service within a country, influenced by local supply and demand conditions, taxes, and subsidies.

Exports and Imports

involve the selling of goods and services to other countries (exports) and buying goods and services from other countries (imports), crucial components of a country's economy.