When an Individual Weighs Her Options and Makes a Choice

question 37

Multiple Choice

When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of

• A) rational decision making.
• B) objective decision making because the value of goods is determined objectively.
• C) marginal management analysis.
• D) random decision making.

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Definitions:

Psychologist Concern

Topics, issues, or areas of interest that are of particular importance or relevance to professionals in psychology.

Multicultural Policy

A governmental approach that recognizes, appreciates, and supports the cultural diversity within a society, often to promote social cohesion and inclusion.

Criticism

The practice of analyzing, evaluating, or judging the merits and faults of a work, policy, or idea.

Canada

A country in North America, characterized by its vast landscape, multicultural population, and as having a parliamentary democracy and a constitutional monarchy.