Logical reasoningLogical reasoning is a mental activity that aims to arrive at a conclusion in a rigorous way. It happens in the form of inferences or arguments by starting from a set of premises and reasoning to a conclusion supported by these premises. The premises and the conclusion are propositions, i.e. true or false claims about what is the case. Together, they form an argument. Logical reasoning is norm-governed in the sense that it aims to formulate correct arguments that any rational person would find convincing.
Abductive reasoningAbductive reasoning (also called abduction, abductive inference, or retroduction) is a form of logical inference that seeks the simplest and most likely conclusion from a set of observations. It was formulated and advanced by American philosopher Charles Sanders Peirce beginning in the last third of the 19th century. Abductive reasoning, unlike deductive reasoning, yields a plausible conclusion but does not definitively verify it. Abductive conclusions do not eliminate uncertainty or doubt, which is expressed in retreat terms such as "best available" or "most likely".
Nonlinear system identificationSystem identification is a method of identifying or measuring the mathematical model of a system from measurements of the system inputs and outputs. The applications of system identification include any system where the inputs and outputs can be measured and include industrial processes, control systems, economic data, biology and the life sciences, medicine, social systems and many more. A nonlinear system is defined as any system that is not linear, that is any system that does not satisfy the superposition principle.
Gross outputIn economics, gross output (GO) is the measure of total economic activity in the production of new goods and services in an accounting period. It is a much broader measure of the economy than gross domestic product (GDP), which is limited mainly to final output (finished goods and services). As of first-quarter 2019, the Bureau of Economic Analysis estimated gross output in the United States to be 37.2trillion,comparedto21.1 trillion for GDP. Problem findingProblem finding means problem discovery. It is part of the larger problem process that includes problem shaping and problem solving. Problem finding requires intellectual vision and insight into what is missing. Problem finding plays a major role in application of creativity. Different terms have been used for problem finding in literature including problem discovery, problem formulation, problem identification, problem construction, and problem posing. It has been studied in many fields.
Measures of national income and outputA variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI adjusted for natural resource depletion – also called as NNI at factor cost). All are specially concerned with counting the total amount of goods and services produced within the economy and by various sectors.
