ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Answer: the answer will be It provides opportunity for participation by individual representing different interests.

Detailed explanation-2: -Generates more favorable outcomes. Provides broader perspective. Taps creative potential. Allows increased discussion. Makes wider use of resources. Builds ownership and buy-in.

Detailed explanation-3: -Advantages: Provide Complete Information. Generate More Alternatives. Increased Acceptance of A Solution. Increase Legitimacy. Disadvantages: Time Consuming. Minority Domination. Pressures To Conform. Ambiguous Responsibility.

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.