0
Which choice defines the value of the things you have to give up when making a decision?
Wiki User
∙ 8y ago
Opprutunity Cost
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
When a decision is made what two things is a decision maker considering?
Two things a decision maker considers when making a decision are future costs and benefits of the decision. Other things are sometimes considered when making decisions including future consequences of the decision.
What about elasticity of demand is false?
There could be many things said about elasticity of demand that are false, but there would be no point in making things up that are not true. This appears to have been taken from a multiple choice exam.
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.
Is capitalism compatible with social justice?
cost benefit analysis maybe regarded as the systematic thinking about relevant decision making is this approach not relevant to making decisions about the things valued very highly or that have infinite value such as life or health?
If consumption is the process of using things making the things that are used known as?
consumption
What do mean by decision making?
Decision making is deciding things.
When a decision is made what two things is a decision maker considering?
Two things a decision maker considers when making a decision are future costs and benefits of the decision. Other things are sometimes considered when making decisions including future consequences of the decision.
What is the Difference between judgment and decision making?
Judgement is judging someone, and decision making is deciding something, usually about you and things about you. Example Plz: by ruban.
Why decision making is difficult?
ANSWER: Decision making is difficult because you have to choose between two different things. You should always think things throughly through before you make a decision. you can try to use a D.A.R.E. guide line. visit www.dare.com
What two things does your conscience do?
When faced with a decision, our conscience guides us to think about the obligations we have to that choice and our principles.
Should I homeschool my high school student?
Making the decision to homeschool is usually very difficult and not one to be taken lightly. It is a personal decision that I can't make for you, but maybe I can help you think it through. Consider these things in making your decision.
There r 2 guys that i like and i don't know which 1 2 choose 1 is same age and makes me laugh other is 8mouth younger and makes me laugh which 1 should i choose?
no one can make this type of decision for you. things to take into account whilst making a decision, is whether or not the age difference matters to you. also, do you see yourself in the future with one of them. the chances are that you have already made an un-concious decision. who do you think of the most? when you listen to love songs who do you think of? goodluck! and i hope you make the right choice. no one can make this type of decision for you. things to take into account whilst making a decision, is whether or not the age difference matters to you. also, do you see yourself in the future with one of them. the chances are that you have already made an un-concious decision. who do you think of the most? when you listen to love songs who do you think of? goodluck! and i hope you make the right choice.
What is the difference between planning and decision making?
Decision making is required during planning but planning is forming a plan before doing. Decision making is required while doing because unplanned things happen.
What are the Four steps before making a moral decision?
1. thinnk before you do 2. Will this decision make things worse? 3. what would jesus do 4.act fast
What defines all living things?
Matter
Which of these defines organisms?
all living things
What are the presidential crisis decision making procedures?
One of the main things used for presidential crisis decision making is using military force as a procedure. Another procedure is voting within the government and a public vote. But there are many more other procedures out there.
