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•Rational choice (Bounded Rationality):
a limited capacity for processing information •Affective Choice: choices driven by how they make the user feel(underlying motive)
consummatory(intrinsic) or instrumental(extrinsic) •Attribute-Based vs. Attitude-Based Choice:
•Knowledge of specific attributes
•The use of attitudes, intuitions, and heuristics (common sense)
Wiki User
∙ 13y ago
Wiki User
∙ 12y agoAn economic choice is a decision on how to spend your money.
A movie ticket can cost USD$10 and popcorn and soda another USD$15. Therefore you can spend (hypothetically) USD$25 for 2 hours of entertainment.
For the same USD$25 you could decide to go out for dinner.
Since you only have USD$25 to spend you must make an economic choice on how to spend your money and which choice will bring you the most pleasure. Not everyone makes the same choices which is why we have so much diversity.
different people make different economic desions
Wiki User
∙ 7y agoDifferent people make different economic choices. While many people historically used to budget and fulfiil wants only when they had disposable or spendable income, in the last 40 to 60 years, people do not always follow this unwritten rule.
Wiki User
∙ 13y agomarket
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Which economic system favors decisions by consumers but allows for some central planning?
Mixed Capitalism
This economic system favors decision by consumers but allows for some central planning?
mixed capitalism
What economic goals correlates with the explanation the ability of people to make choices?
There are different economic goals that correlate with the explanation decisions about how much workers should receive in income. Some of these goals include lifestyle, security and equity.
Which of following is not a basic economic function of government?
This cannot be answered. You will have to give me some choices to choose from.
What is true about a mixed economy?
Businesses are free to make many choices, but they face some government regulation
Which economic system favors decisions by consumers but allows for some central planning?
Mixed Capitalism
This economic system favors decision by consumers but allows for some central planning?
mixed capitalism
What economic goals correlates with the explanation the ability of people to make choices?
There are different economic goals that correlate with the explanation decisions about how much workers should receive in income. Some of these goals include lifestyle, security and equity.
Which of following is not a basic economic function of government?
This cannot be answered. You will have to give me some choices to choose from.
How choices affect us?
Some choices may result as a positive affect. Some chices may result as a negative affect. It all depends on the choices we make. But remember no one can make us to do anything. We all have choices! Hope this helps :)
What is true about a mixed economy?
Businesses are free to make many choices, but they face some government regulation
What are some good food choices to eat?
There are over a million different types of food you can make or create. Go to the website below for some choices.
This economic system favors decisilns by consumers but allow for some central planning?
not entirely sure, but i think it's mixed capitalism
What is Law of substitution in economics?
-it is an economic proposition that no good is absolutely irreplaceable that at some set of prices, consumers will substitute other goods for it...
What political and economic factors influence societies to make policy choices for their nations?
There can be plenty of factors influencing policy making in a country. Some are:geographical factors.socio-economic factors.multiculturalism.plurality of the country.castesim.class differences.poverty and backwardness.if you need to go more into depth on this topic... search Google or Yahoo Answers
Are mice second level consumers in the desert?
No, mice, for the most part, are first level consumers. Some mice, however, feed on insects which would make them second level consumers.
What are some things you can do to educate yourself to make intelligent choices when you vote?
ask yourself do you want to make that decision
