ECONOMICS
INCENTIVES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Money available
|
|
|
Criteria identified
|
|
|
Peer pressure
|
|
|
Needs and wants
|
Detailed explanation-1: -Criteria: Students select the criteria on which the alternatives should be evaluated. This is where the students decide which values are important to them to ensure that their evaluation produces a meaningful decision. Evaluate: Students evaluate how well each alternative meets the chosen criteria.
Detailed explanation-2: -The PACED Model is a matrix that can be used in the decision making process. The PACED steps of Problem, Alternatives, Criteria, Evaluate, and Decide help us to problem solve more logically. Using this visual model can help students make choices more readily.
Detailed explanation-3: -Their assigned goal is go through the PACED steps-1) Define the Problem, 2) List Alternatives, 3) Determine Criteria, 4) Evaluate Alternatives, and 5) Make a Decision.
Detailed explanation-4: -Organizations can apply the PACED decision-making process in many different ways. The model contains five steps as part of the acronym. These include the problem, alternatives, criteria, evaluation, and decision.