It is also known as abstract, axiomatic, a priori analytical. The economist begins from the principle which are accepted as self-evident or proved proposition and then draws conclusion as consequences of these principles through the process of valid resourcing moves from â€œGeneral to Particularâ€.
Deductive logic passes through following stages.
- Perception and selection of premises from which the conclusions are to be derived. Assumptions are made.
- Inferences are drawn from the premises originally selected.
- It consists of a return to the real world by means of an
interpretation that yields conclusion in term of concrete sensible world of
Accurate & reliable
Require more competence
It is based on false premises, then false conclusion.
Not applicable uniformly
May 06, 2017