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-Your luck, not decisions, determine most of the good and the bad in your life.
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False-Your fate, not luck, determine most of the good and the bad in your life.
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None of the above
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Detailed explanation-1: -The goodness of a decision (its quality) is a measure of how well informed the decision maker was when they chose between the options available to them. A bad decision is one in which the decision maker was poorly informed, because of bad information, incomplete information, or faulty reasoning.
Detailed explanation-2: -Bad decision affects one’s life badly. Actually our success depends on the decision which we take at present. If our decision is wrong, we have to repent for it because it ruins the countless happy moments of life. Our failure creates disappointment and we forget the essence of life.
Detailed explanation-3: -Minimally meeting specific needs. Maximizing fulfillment of relevant goals or desires. Realization of the outcomes with appropriate timing (hopefully more specific than as soon as possible) Minimal or no negative consequences (avoids harm) More items
Detailed explanation-4: -Career-related decisions (e.g. starting a new job) Education-related decisions (e.g. choosing a major) Family-related decisions (e.g. having a child) Finance-related decisions (e.g. buying a car) Relationship-related decisions (e.g. getting married) More items •20-Sept-2021