The development of an economic hypothesis through intuition, insight, or logic is associated with
EXPLANATION:Induction involves drawing general conclusions from specific observations or instances. In this context, economic hypotheses are formulated based on observed patterns, experiences, or logical reasoning, which aligns with the process of induction. Deduction, on the other hand, involves deriving specific conclusions from general principles or theories. Policy economics and normative economics refer to different branches or approaches within economics and are not directly related to the process of hypothesis formulation.
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