ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Whenever you have implemented a decision, you need to evaluate the results. The outcomes may give valuable advice about the decision-making process, the appropriateness of the choice, and the implementation process itself.
Detailed explanation-2: -The most important thing to remember when faced with an important decision is to determine what type of impact the decision will have on the people involved. Many bad decisions can be remedied, however, the more people the decision impacts, the more difficult it will be to remedy the situation.
Detailed explanation-3: -Step 1: Identify the decision. You realize that you need to make a decision. Step 2: Gather relevant information. Step 3: Identify the alternatives. 7 STEPS TO EFFECTIVE. Step 4: Weigh the evidence. Step 5: Choose among alternatives. Step 6: Take action. Step 7: Review your decision & its consequences.