ECONOMICS

COST ACCOUNTING

INFORMATION FOR DECISION MAKING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What two resources should you consider when making important decisions?
A
personal resources
B
social resources
C
material resources
D
family resources
Explanation: 

Detailed explanation-1: -Decision makers and intelligent systems are examples of resources that are active in nature as they perform decision-making activities. In contrast, information is an example of a passive resource, because it is subject to use by active resources (e.g., decision makers) during decision making.

Detailed explanation-2: -Answer: Before making a significant choice, it is important to take into account a number of factors, including prior experiences, different cognitive biases, an increase in commitment and sunk costs, age, socioeconomic status, and a sense of personal relevance are examples of personal qualities.

There is 1 question to complete.