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When a choice is made what s the consequence of choice that is the alternative forgone?
making choices means sacrificing some alternatives.what i think about the alternatives forgone is the advantages of the second best altenative,time and the demerits of what is chosen.
What does making a choice at the margin mean?
Making a choice by comparing total benefit to total cost.
When making a choice between two things what is the one that you give up called?
In economics, the value of a forgone choice is called an "opportunity cost" because it represents a potential value that is lost, at least initially.There are several adjectives for things not chosen, including alternative, bypassed, forgone, deferred, or unpicked.
What is Maximize choice?
Maximize choice refers to the principle of providing individuals with a wide array of options to enhance their decision-making and autonomy. It emphasizes the importance of allowing people to select from diverse alternatives that best fit their preferences and needs. This concept is often applied in various fields, including economics, education, and public policy, to promote empowerment and satisfaction. Ultimately, maximizing choice can lead to better outcomes by aligning options with individual values and circumstances.
What person can be called someone who is willing to take a chance in business with the hope of being successful and making a profit?
An Entrepreneur .
The act of consciously choosing from alternatives is called?
decision making
What is make choice about something?
Making a choice means selecting one option from several possibilities. It involves considering the available alternatives and making a decision based on one's preferences, values, and circumstances.
What is something you might use to help you make a choice between two seemingly equal alternatives?
A Decision-making grid.
When a choice is made what s the consequence of choice that is the alternative forgone?
making choices means sacrificing some alternatives.what i think about the alternatives forgone is the advantages of the second best altenative,time and the demerits of what is chosen.
What is meant by ambiguity decision making?
When you don't know even about what is problem; its alternatives and final results, and you made an answer then it is called Ambiguity decision making.
What is meant by decision-making?
What is meant by decision making is someone making a choice. Options are given that pertain to a certain situation and a decision or choice is made. An example would be the decision to make chicken or meatloaf for dinner.
What is it called to pick one thing over another thing?
It is called making a choice or decision.
What is an example of an action that is part of making a rational choice?
An example of an action that is part of making a rational choice is gathering information and evaluating the available alternatives before making a decision. This involves considering the potential outcomes, weighing the pros and cons of each option, and selecting the option that aligns best with your goals and preferences.
What is one way that you can lower the chlorofluorocarbons from making holes in the ozone?
We could use their alternatives. The alternatives are HCFC's.
How can the reader infer that there a price for the choices we make?
If a story talks about someone making a choice, and then shows the price of that choice in the story, the reader can infer that choices have consequences (prices).
The ethical decision-making process begins?
The process of ethical decision making starts with recognizing that an ethical problem exists. Important questions include asking if someone is damaged by the situation and rather their is a good choice and a bad choice.
Making a decision at the margins is possible only in situations where?
Making a decision at the margin is possible only in situations when the available alternatives can be divided into increments.
