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What best explains why minimizing costs is a rational way to make decisions?
paying a cost means doing without something good or accepting something bad
Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing?
Rational and subjective
How would you use economic in a sentence?
He was known to make rational, economic, and practical decisions.
What is Decision making rational?
Rational decision-making is a systematic process of choosing the best option among alternatives based on logical reasoning and objective criteria. It involves defining the problem, gathering relevant information, evaluating options, and selecting the choice that maximizes benefits while minimizing risks. This approach aims to eliminate biases and emotions, ensuring decisions are based on facts and structured analysis. Ultimately, rational decision-making seeks to achieve optimal outcomes through careful consideration and evaluation.
What do economists mean by rational self-interest?
Basically, it means that an individual makes economics decisions that he or she believes will benefit him or her the most. Self-rational interest is different from selfishness.
What best explains why minimizing is a rational way to make decisions?
paying a cost means doing without something good or accepting something bad
What best explains why minimizing costs is a rational way to make decisions?
paying a cost means doing without something good or accepting something bad
Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing?
Rational and subjective
How do rational numbers equal rational decisions?
They do not. There is no relationship between rational numbers and rational decisions.
What is the definition of rational decisions and irrational decisions?
Rational decisions are thought out with common sense, irrational are not.
Which of the following best explains why considering opportunity cost is a rational thing for consumer to do?
What you sacrifice for a decision is one of the non-monetary costs of many choices
Is the following number rational or irrational -2?
Rational.
What is the difference between rational and logical thinking?
Rational thinking involves making decisions based on reason and evidence, while logical thinking involves following a set of principles or rules to reach a conclusion. Rational thinking considers emotions and values, while logical thinking focuses on the structure of arguments.
Which of the following correctly describes the sum of two rational numbers?
It is always rational.
When problem solving and making decisions where is your rational thought being centered?
Rational thinking stems from your pre-frontal cortex.
Which of the following rational functions is graphed below?
a
What are the benefits of making rational decisions?
Rational decisions usually lead to positive or desirable outcomes. An irrational decision may lead to a bad outcome. For example if I want to visit Australia, I could book an airline ticket...or swim! One of these choices is rational the other not so much.
