[Solved] \[\begin{array}{l} \text { Construct a pie chart for the following distribution: }\\ \begin{array} { c c } \underline { \text { Major } } & \text { Number of Students } \\ \text { Business } & 128 \\ \text { Science } & 36 \\ \text { Engineering } & 60 \\ \text { Social Sciences } & 40 \\ \text { Liberal Arts } & 88 \\ \text { Education } & 48 \end{array} \end{array}\] Decision: The act or process of making choices or selecting an option from a range of possibilities, often after a period of deliberation. Framing Effect: The tendency for people’s choices to be affected by how a choice is presented, or framed, such as whether it is worded in terms of potential losses or gains. Potential Losses: Possible negative outcomes or detriments that could occur as a result of specific actions, decisions, or events. Choices: The act of selecting between two or more possibilities, reflecting personal preference, values, or circumstances.

Solved

question 10

Essay

$\begin{array}{l}\text { Construct a pie chart for the following distribution: }\\\begin{array} { c c } \underline { \text { Major } } & \text { Number of Students } \\\text { Business } & 128 \\\text { Science } & 36 \\\text { Engineering } & 60 \\\text { Social Sciences } & 40 \\\text { Liberal Arts } & 88 \\\text { Education } & 48\end{array}\end{array}$

Differentiate between rival and nonrival goods.

Recognize examples of common resources and understand why they are considered as such.

Recognize examples of private goods and understand why they are considered as such.

Recognize examples of public goods and understand why they are considered as such.

Definitions:

Decision

The act or process of making choices or selecting an option from a range of possibilities, often after a period of deliberation.

Framing Effect

The tendency for people’s choices to be affected by how a choice is presented, or framed, such as whether it is worded in terms of potential losses or gains.

Potential Losses

Possible negative outcomes or detriments that could occur as a result of specific actions, decisions, or events.

Choices

The act of selecting between two or more possibilities, reflecting personal preference, values, or circumstances.