ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Family decision-making provides an environment where the family works towards goals that all family members have in common. Family members not involved in decision-making will often work towards individual goals that may be in conflict with family goals.

Detailed explanation-2: -Herbst categorized the FDM structure into four types: (1) wife dominant, (2) husband dominant, (3) autonomic, and (4) syncratic. The autonomic decision is when an equal number of decisions are made by each spouse, and the syncratic is when most decisions are made jointly by husband and wife (Engel et a l., 1973).

Detailed explanation-3: -Importance in the family is counted for everyone. But important decisions regarding the family should be taken by the parents on the advise of the grandparents.

Detailed explanation-4: -Effective decision-making involves weighing options and choosing the best available option. When making decisions, it’s essential to understand the factors contributing to making a good choice. A rational decision is based on accurate information and an understanding of the situation at hand.