ECON 1P92 Key Terms

The study of how people allocate limited resources

Is the attempt to empirically falsify theories about the world

Universal Statement —> Particular Statement

Particular Statement —> Universal Statement

Premises and Conclusions

Statements assumed to be true

Statements desired from premises

A valid argument with true premises

Type of invalid argument

When the person making the argument is attacked instead of the argument itself

Appeal to popularity instead of logic

Using emotion instead of logic

Using experts opinions to make an argument instead of facts and logic

When you twist your opponents words into something that they did not mean, and which is easy to argue against

An attempt to redirect the conversation away from its original topic

Is the act of rejecting or accepting an argument on the basis of its origin rather than its content

Assuming that one thing caused another merely because the first thing preceded the other

An argument’s premises assume the truth of the conclusion

In which one prematurely claims that an idea or proposal is correct or superior, exclusively because it is a new and modern

To ignore the evidence that we should change something because we have been doing something for a long time

Drawing a conclusion about a population based on a sample that is biased, or chosen in order to make it appear the population on average is different than it actually is

Making a claim based on evidence that is just too small

In which two events occurring together are taken to have established a cause-and-effect relationship

The tendency to ignore relevant statistical information in favour of case-specific information

Finding a conclusion about something that isn’t necessarily true