an argument consists of one or more premises and one conclusion. A premise is a statement (a sentence that is either true or false) that is offered in support of the claim being made, which is the conclusion (which is also a sentence that is either true or false).
A deductive argument is an argument such that the premises provide (or appear to provide) complete support for the conclusion. An inductive argument is an argument such that the premises provide (or appear to provide) some degree of support (but less than complete support) for the conclusion.
A good deductive argument is known as a valid argument and is such that if all its premises are true, then its conclusion must be true.
A good inductive argument is known as a strong (or “cogent”) inductive argument. It is such that if the premises are true, the conclusion is likely to be true. A fallacy is, very generally, an error in reasoning. This differs from a factual error, which is simply being wrong about the facts. To be more specific, a fallacy is an “argument” in which the premises given for the conclusion do not provide the needed degree of support.