Economy of assumption refers to the practice of making the fewest number of assumptions possible in order to come to a conclusion. Other terms that can be used to describe this concept include minimalist assumptions, parsimony, and Occam's razor. These terms all emphasize the importance of not introducing unnecessary complexity into a hypothesis or argument. Instead, they suggest that the simplest explanation is often the best one. By using these terms, we can convey the idea of economy of assumption in a succinct and precise way, highlighting the importance of keeping our assumptions to a minimum in any intellectual endeavor.