The stock market lost 10% of its value last week. Why is that? It appears that the cause was
the closure of the Suez Canal, since that was the only factor that was different from the
previous week where stock prices were at record highs. No major oil exporting nations
lowered exports, no major refiners were experiencing slowdowns, and no major crises were
taking place elsewhere in the world.
What will be an ideal response?
ANS:This
passage contains an argument. The issue is whether the cause of the stock market
losing 10% of its value last week was the closure of the Suez Canal. The conclusion is that the
cause of the stock market losing 10% of its value last week was the closure of the Suez Canal.
The first premise is that the stock market lost 10% of its value last week. The second premise
is that the closing of the Suez Canal was the only factor that was different from the previous
week where stock prices were at record highs.
This passage contains a subargument. The intermediate conclusion is that the closing
of the Suez Canal was the only factor that was different from the previous week where stock
prices were at record highs. The first premise is that no major oil exporting nations lowered
exports during the week that the stock market fell by 10%. The second premise is that no
major refiners were experiencing slowdowns during the week that the stock market fell by
10%. The third premise is that no major crises were taking place elsewhere in the world
during the week that the stock market fell by 10%.
This argument is an inductive causal argument. The argument is strong, because it
gives evidence that the closing of the Suez Canal was the only possible cause of the stock
market losing 10% of its value.
? The stock market lost 10% of its value last week. Why is that? ? It appears that the cause
was the closure of the Suez Canal, since ? that was the only factor that was different from the
previous week where stock prices were at record highs. ? No major oil exporting nations
lowered exports, ? no major refiners were experiencing slowdowns, and ? no major crises
were taking place elsewhere in the world.
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