Economic Reasoning
Quiz by Angela Millspaugh
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- Q1
Not everyone makes the same decision in a given situation. Which option is NOT one of the reasons for this?
Different life situations
Personal judgment
Different preferences
Peer pressure
300s - Q2
What does the "P" in the PACED Decision-Making Process stand for?
Identify the problem
Identify the producers
Implement the program
Make a plan
300s - Q3
Which step in the PACED Decision-Making Process are you using when you list what you want to accomplish?
Identify the problem
Identify the criteria
Evaluate the alternative
Make a decision
300s - Q4
Economic decisions are generally based on cost/benefit
truefalseTrue or False300s - Q5
In the PACED Decision-Making Process, you evaluate alternatives based on criteria identified.
truefalseTrue or False300s