ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Deciding what is correct
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Putting preferences on paper
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Choosing among alternatives
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Processing informafor completion
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Detailed explanation-1: -Decision-making is the act of choosing the best alternative, after assessing all the available alternatives.
Detailed explanation-2: -Decision making is the process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.
Detailed explanation-3: -Selecting one from the various alternatives is called decision making. When trying to make a good decision, a person must weigh the positives and negatives of each option, and consider all the best possible alternative.
Detailed explanation-4: -1] Making routine choices and judgments. When you go shopping in a supermarket or a department store, you typically pick from the products before you. 2] Influencing outcomes. 3] Placing competitive bets. 4] Making strategic decisions. The constraint of decision making research.
Detailed explanation-5: -strategic. tactical. operational.