Theme 1 > Theme 1.1 > Theme 1.1.2 Rational Decision Making Process by Economic Agents>Overview
IntroductionAs reviewed in the previous section, scarcity necessitates choice. Since not all wants can be satisfied, decisions need to be made regarding how to use and allocate scarce resources.
In this learning package, we explore the process and considerations of making such decisions through the Decision-Making Framework. Activity 1: Watch this video and respond to the questions below.
This video introduces the rational decision-making framework that can be used to study the considerations and impact of decisions in allocating scarce resources.
In summary:
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