ECONOMICS

Detailed explanation-1: -Bad decision affects one’s life badly. Actually our success depends on the decision which we take at present. If our decision is wrong, we have to repent for it because it ruins the countless happy moments of life. Our failure creates disappointment and we forget the essence of life.

Detailed explanation-2: -Limited attentional and cognitive resources can contribute to bad decision-making. Past experiences, individual factors, biases, and fatigue can also play a part.

Detailed explanation-3: -Failing to get the right input at the right time. Failing to understand that input through insufficient skills. Failing to understand when something that worked in the past will not work now. Failing to know when to make a decision without all the right information and when to wait for more advice.