The Initial Step in the Decision Making Process Is to

question 116

Multiple Choice

The initial step in the decision making process is to

• A) Select an alternative.
• B) Evaluate the decision.
• C) Challenge the status quo.
• D) Generate alternatives.
• E) Identify the problem.

---

Definitions:

Disposable Income

Available financial merits for households towards spending and saving following income tax subtractions.

MPC

Marginal Propensity to Consume, which is the proportion of any additional income that is spent on consumption rather than being saved.

Savings

Money set aside typically in financial instruments, representing deferred consumption or for future use.

Disposable Income

The economic provision for households' saving and spending activities post income tax calculations.