Using General Principles to Explain Specific Observations Is Called _______________

question 33

Short Answer

Using general principles to explain specific observations is called _______________ reasoning.

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Definitions:

Derived Demand

The demand for a resource; it stems from the demand for the final good the resource helps produce.

Input Demand

The requirement for resources and materials necessary to produce goods and services.

Output Demand

The quantity of a product or service that consumers are willing and able to purchase at various price points.

Immigration Effect

The impact that immigration has on a host country's economy, labor market, culture, and social fabric, both positive and negative.