Final answer:
The problem of induction refers to the difficulty of justifying inferences made from observation or experience. Inductive reasoning relies on past experiences and accepted generalizations but can be subject to fallacies. The accuracy of inductive inferences is not guaranteed.
Step-by-step explanation:
Induction can be summarized as 'the problem of induction', which refers to the difficulty of justifying inferences made from observation or experience. Inductive reasoning involves using past experiences and accepted generalizations to predict or explain things about the world. However, inductive inferences are not always reliable and can be subject to fallacies. For example, when we observe smoke and infer that there is fire, we are using inductive reasoning. But this inference is not guaranteed to be accurate, as there could be other possible explanations for the presence of smoke.