ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consequence
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Theprocess of arriving at a conclusion or solution, or making a choice
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Describing an alternative
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None of the above
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Detailed explanation-1: -Step 1: Identify the decision. Step 2: Gather relevant information. Step 3: Identify the alternatives. Step 4: Weigh the evidence. Step 5: Choose among alternatives. More items •08-Jun-2022
Detailed explanation-2: -The four decision-making styles, analytical, directive, conceptual, and behavioral, are strategies leaders and individuals employ to make choices.
Detailed explanation-3: -Decision theory: Decision theory is a body of knowledge and related analytical techniques of different degrees of formality designed to help a decision maker choose among a set of alternatives in light of their possible consequences. Decision theory can apply to conditions of certainty, risk, or uncertainty.
Detailed explanation-4: -The decision-making process includes the following steps: define, identify, assess, consider, implement, and evaluate. Today we’re going to think together a little bit about the decision-making process. Usually, most people don’t break down how they make decisions, they just decide.