ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Taking action
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Defining the problem
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Gathering information
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Seeking help every time
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Detailed explanation-1: -Step 1: Identify the decision. You realize that you need to make a decision. Step 2: Gather relevant information. Step 3: Identify the alternatives. Step 4: Weigh the evidence. Step 5: Choose among alternatives. Step 6: Take action. Step 7: Review your decision & its consequences. 08-Jun-2022
Detailed explanation-2: -Step 1: Identify Your Goal. One of the most effective decision making strategies is to keep an eye on your goal. Step 2: Gather Information for Weighing Your Options. Step 3: Consider the Consequences. Step 4: Make Your Decision. Step 5: Evaluate Your Decision.
Detailed explanation-3: -Understand the context. The first step is to identify and define the situation. Make a plan. Identify the “who” and “why” Weigh the pros and cons. Get a second opinion. Limit your choices. Set deadlines. Evaluate the outcome. More items •19-May-2022
Detailed explanation-4: -Define the problem or need: Analyze the issue at hand: Implement and communicate: Learn from the process and the outcome: