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ECONOMICS Higher Secondary Level -1
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Pregunta:
Give the meaning of the deductive method?
Autor: Vimala BaluRespuesta:
The deductive method is also named as an analytical or abstract method. It consists in deriving conclusions from general truths. It takes a few general principles and applies them to draw conclusions. The classical and neoclassical school of economists notably, Ricardo, JS Mill, Malthus Marshall, Pigou applied the deductive method in their economic investigations.
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