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Tamil Nadu Board of Secondary EducationHSC Commerce Class 11

Explain various Steps of Deductive and Inductive methods. - Economics

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Question

Explain various Steps of Deductive and Inductive Methods.

Answer in Brief

Solution

  • Steps of deductive method:
  1. Should have a clear and precise idea of the problem.
  2. Definition of technical terms and assumptions.
  3. Deducing hypothesis.
  4. Verification of hypotheses
  • Steps of inductive method:
  1. Data collection and arrangement.
  2. By observing the data conclusions are drawn easily.
  3. Generalization of data and hypothesis formulation.
  4. Verification of hypothesis.
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Economics: Its Method, Facts, Theories and Laws
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Chapter 1: Introduction to Micro Economics - Model Questions - Part D [Page 24]

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Samacheer Kalvi Economics [English] Class 11 TN Board
Chapter 1 Introduction to Micro Economics
Model Questions - Part D | Q 36 | Page 24
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