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How does the study of economics depend upon the phenomenon of scarcity?
Scientific Method
A systematic, organized series of steps that helps ensure objectivity and consistency in exploring a social or scientific question.
Inductive Reasoning
A logical process in which multiple premises, all believed true or found true most of the time, are combined to obtain a specific conclusion.
Deductive Reasoning
A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.
Survey Research
A method for collecting data and information about individuals by asking them questions and analyzing their responses.
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