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According to Joseph Schumpeter,which of the factors of production is central to economic growth?
Deductive Reasoning
A reasoning strategy where a judgment is drawn from the alignment of various propositions typically considered factual.
Inductive Reasoning
A method of reasoning in which specific observations or data are analyzed to form a general conclusion or principle.
Abductive Reasoning
A type of logical inference which begins with an observation then seeks to find the simplest and most likely explanation.
Retroductive Reasoning
A form of reasoning that starts from an observed effect and works backward to hypothesize a cause; also known as abductive reasoning.
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