JAMB - Economics (2018 - No. 1)
The privatization of public enterprises will lead to the efficient management of resources in the economy. This statement can best be described as_____________
deductive reasoning
positive reasoning
normative reasoning
inductive reasoning
Explicaţie
Inductive reasoning is a type of logical thinking that involves forming generalizations based on specific incidents you've experienced, observations you've made, or facts you know to be true or false.
For a fact, we all know that privatization of public enterprises leads to efficiency in those enterprises, therefore the statement above ''The privatization of public enterprises will lead to the efficient management of resources in the economy'' for fact, has been proven to be true from experience and observations.