ECONOMICS

Detailed explanation-1: -the act or process of deciding; determination, as of a question or doubt, by making a judgment: They must make a decision between these two contestants. the act of or need for making up one’s mind: This is a difficult decision.

Detailed explanation-2: -Decision making is a process of identifying and evaluating choices.

Detailed explanation-3: -In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational.

Detailed explanation-4: -In its simplest sense, decision-making is the act of choosing between two or more courses of action. In the wider process of problem-solving, decision-making involves choosing between possible solutions to a problem.