ECONOMICS
OPPORTUNITY COST
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
consequences
|
|
|
choice
|
|
|
decision making
|
|
|
None of the above
|
Detailed explanation-1: -Choice is our ability to make decisions when presented with two or more options.
Detailed explanation-2: -Dilemma does not mean simply a problem; it means a choice between disagreeable alternatives.
Detailed explanation-3: -Choice is the outcome of a process which involves assessment and judgement; that is, the evaluation of different options and making a decision about which option to choose. In order for these processes to take place and a choice to be made, there need to be two or more alternatives from which to choose.
Detailed explanation-4: -A decision is the act or need for making up one’s mind, while choice means the right, the power or the opportunity to choose. Decision is process oriented and backward looking, Choice is value oriented and forward looking.
Detailed explanation-5: -Look beyond the moment. Evaluate a “head choice” versus a “heart choice” Consider if you could you survive if disappointed. Respect the effect and influence of others. Go with what you know.