ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Impact of Emotions on Financial Decisions A study performed by Nobel Prize-winning psychologist Daniel Kahneman showed that we make financial decisions based 90% on emotion and only 10% on logic.

Detailed explanation-2: -Strong financial knowledge and decision-making skills help people weigh options and make informed choices for their financial situations, such as deciding how and when to save and spend, comparing costs before a big purchase, and planning for retirement or other long-term savings.

Detailed explanation-3: -Perform Financial Statement Analysis. Estimate the Financial Impact of Projects and Initiatives. Learn How to Budget. Involve Your Team in Decision-Making. Track Financial Performance. 02-Jun-2020

Detailed explanation-4: -The Science of Decision-Making. Pause and assess the situation. Don’t always rely on your gut. Put it in writing. Narrow your options. Ask the majority. Avoid burnout. 31-May-2016