Dictionary

deduction

noun de·duc·tion \di-ˈdək-shən, dē-\

: the act of taking away something (such as an amount of money) from a total

: something (such as an amount of money) that is or can be subtracted from a total

: the act or process of using logic or reason to form a conclusion or opinion about something : the act or process of deducing something

Full Definition of DEDUCTION

1
a :  an act of taking away <deduction of legitimate business expenses>
b :  something that is or may be subtracted <deductions from his taxable income>
2
a :  the deriving of a conclusion by reasoning; specifically :  inference in which the conclusion about particulars follows necessarily from general or universal premises — compare induction
b :  a conclusion reached by logical deduction
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Examples of DEDUCTION

  1. The government is offering new tax deductions for small businesses.
  2. What is your pay after the deductions have been taken out?
  3. His guess was based on intuition rather than deduction.
  4. Our deduction was based on the information given to us at the time.
  5. It was a logical deduction.

First Known Use of DEDUCTION

15th century

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer
DEDUCTION Defined for Kids

deduction

noun de·duc·tion \di-ˈdək-shən\

Definition of DEDUCTION for Kids

2
:  an amount deducted
3
:  a conclusion reached by reasoning <Her deduction was based on all the clues.>

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