ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Delayed Gratification
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Play it Safe
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Agony
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None of the above
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Detailed explanation-1: -decision making strategy in which you consider every detail of every option over and over again. decision making strategy in which you choose the alternative with the lowest level risk. consists of five steps:1. define the problem; 2.
Detailed explanation-2: -Investigate the situation in detail. Create a constructive environment. Generate good alternatives. Explore your options. Select the best solution. Evaluate your plan.
Detailed explanation-3: -Command – decisions are made with no involvement. Consult – invite input from others. Vote – discuss options and then call for a vote. Consensus – talk until everyone agrees to one decision.
Detailed explanation-4: -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.