ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Evaluate choices
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Identify choices
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Review your decision
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Choose one
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Detailed explanation-1: -Step 2: Gather relevant information Collect some pertinent information before you make your decision: what information is needed, the best sources of information, and how to get it. This step involves both internal and external “work.” Some information is internal: you’ll seek it through a process of self-assessment.
Detailed explanation-2: -Step 2: Gather Information for Weighing Your Options When making good decisions it is best to gather necessary information that is directly related to the problem. Doing this will help you to better understand what needs to be done in solving the problem, and will also help to generate ideas for a possible solution.
Detailed explanation-3: -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-4: -Define the problem or need: Analyze the issue at hand: Implement and communicate: Learn from the process and the outcome: