ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Define your goal.
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State the decision to be made.
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Evaluate your choices.
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Make your decision.
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Detailed explanation-1: -1. Identify the decision. To make a decision, you must first identify the problem you need to solve or the question you need to answer. Clearly define your decision.
Detailed explanation-2: -Define your goal. State the decision to be made. Evaluate your choices. Make your decision.
Detailed explanation-3: -The first step in the rational decision making process is to think up alternative solutions. The final step in the rational decision making process is to implement and evaluate the chosen solution.
Detailed explanation-4: -The first step in the decision making process. Consider all possible options. The second step in the decision making process. Identify the consequences of each option.
Detailed explanation-5: -Specific. Have a clear definition of exactly what you want to accomplish. Measurable. Have measurable targets or checkpoints along the way that you can aim for and celebrate. Attainable. Your goal should be reachable and realistic. Relevant. Time-Bound. Other tips!