ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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linear prediction
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Dependent prediction
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making Prediction
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independent prediction
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Detailed explanation-1: -Third step in decision making process is making predictions. A step-by-step approach to the decision making process is an efficient way to make thoughtful, informed decisions.
Detailed explanation-2: -Identify the alternatives. Weigh the evidence. Choose among the alternatives. Take action.
Detailed explanation-3: -Clarify= Clearly identify the decision to be made or the problem to be solved. Consider=Think about the possible choices and what would happen for each choice. Think about the positive and negative consequences for each choice. Choose=Choose the best choice!
Detailed explanation-4: -The decision-making process allows for the exploration of all alternatives in order to solve a problem, and it ensures that the best solution is found. The decision-making process includes the following steps: define, identify, assess, consider, implement, and evaluate.
Detailed explanation-5: -Define the problem or need: Analyze the issue at hand: Implement and communicate: Learn from the process and the outcome: