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liq [111]
3 years ago
8

Everyday fresh is a retail outlet that sells its products at a discounted rate. it expands its product base to a new division th

at primarily sells stationery. jason buys a set of pencils and erasers and assumes that these products must have a discount too. this kind of reasoning is said to be ______. analogical reasoning deductive reasoning parallel thinking means-end analysis
Business
2 answers:
Goryan [66]3 years ago
8 0

He is following the Deductive Reasoning. In simple words, Deductive Reasoning is the process of reasoning or thinking from one or more characteristics of someone or something to reach at a conclusion about them.  

Like in this example, Everyday Fresh company sells its products at a discounted price, so it is very logical to think for someone that if the company opens up its new product base, that would also be at the discounted price.

So when Jason bought a set of pencils and eraser of Everyday Fresh company, he thinks that this would also be given on a discounted rate. This logical thinking is called as Deductive Reasoning.

otez555 [7]3 years ago
7 0
This kind of reasoning is said to be DEDUCTIVE REASONING.
Deductive reasoning is the process of reasoning based on multiple premises that are generally believed to be true. Deductive reasoning usually moves from the general to the specific. For instance, in the question given above, Jason reasoned that if other products are sold at discounted prices, then the items that are newly available will also be sold at discounted prices. 
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<h3><u>How does price elasticity work?</u></h3>

A measure of a product's consumption change in response to a price change is called price elasticity of demand. Price elasticity is a tool used by economists to analyze how changes in a product's price affect its supply and demand. Supply has an elasticity similar to demand, and it's called the price elasticity of supply.

The relationship between a change in supply and a change in price is referred to as price elasticity of supply. By dividing the percentage change in quantity supplied by the percentage change in price, it is determined. What products are produced at what prices depends on the interaction of the two elasticities.

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The correct answer would be option B, A bank approves mortgage for a customer.

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