ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Decision making is a part of problem solving-and both decision making and problem solving are examples of thinking.
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Decision making is an aspect of thinking-but not part of problem solving.
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Problem solving is a part of decision making-but only decision making is a true example of thinking.
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Thinking, decision making and problem solving are three distinct cognitive processes with no overlap in what they do.
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Detailed explanation-1: -Which of the following statements is true about thinking, decision making and problem solving? Decision making is a part of problem solving-and both decision making and problem solving are examples of thinking.
Detailed explanation-2: -Decision making has much in common with problem solving. In problem solving you identify and evaluate solution paths; in decision making you make a similar discovery and evaluation of alternatives. The crux of decision making, then, is the careful identification and evaluation of alternatives.
Detailed explanation-3: -Cognitive development focuses on how children learn and process information. It is concerned with the construction of thought processes, including remembering, problem-solving, and decision making.
Detailed explanation-4: -Problem-solving involves identifying an issue, finding causes, asking questions and brainstorming solutions. Gathering facts helps make the solution more obvious. Decision-making is the process of choosing a solution based on your judgment, situation, facts, knowledge or a combination of available data.