Making Decisions
Decision Making Vocabulary
Resources
Decision Making Strategies
Economic Conditions Affect
Decision-Making?
Risks
100

List possible alternatives.

What is the 3rd step on the problem solving process?

100

– outcomes or results of a decision; what will happen depending upon what you choose to do; these are determined by your actions or lack of action

What is consequences?

100

ex. Legal Aid, county health clinics, Family Counseling

Who are agencies who can help with decision making?
100

Going along with what your family, teachers, or friends expect you to do.

What is compliance ?

100

rising prices for goods and services and lower buying power of the dollar

What is inflation?

100

Your income can change for a variety of reasons. When people buy fewer goods, others may lose their jobs.

What is income-risks?

200

Consider the consequences of each choice (action) and evaluate the alternatives and making the your decision. 

What is the 4th  and 5th steps in the decision making process?

200

a trade-off. It refers to what you give up when a decision is made or the cost of giving up one thing in order to get something that you want more. The cost may involve your time, money, and/or effort

What is opportunity costs?

200

ex. Consumer Reports, PC Magazine, Car and Driver

What are books and magazines that can help with making decisions?

200

Choosing an option that prevents an unpleasant result.

What is avoidance?

200

the cost of borrowing money. Lower interest rates encourage consumer spending; higher rates encourage saving and less borrowing

What is interest rates?

200

Inflation involves rising prices, meaning you will be able to buy less for your money. If you wait to buy an item later, it may cost more

What is inflation risks?

300

The final step in the decision making process.

What is evaluating the decision to see if it was a good decision?
300

Listing good and bad things that could happen

What is listing pros and cons?

300

use search engines such as Yahoo, Google, or Bing

What is the internet searches to help with decision making process?

300

Choosing an option that will probably be successful and which you like the best.

Synthesis is the best decision making strategy?

300

the number of unemployed people who are willing to work, which affects consumer spending and job opportunities

What is the unemployment rate?

300

Whenever you make a decision to make, spend, save or borrow money, there is some risk involved. It is important to compare interest rates if you’re opening a savings account or if you need to borrow money to make a big purchase (

What is decision making risks?

400

Gather information

What is the 2nd step in the decision making process?

400

the possibility that your decision will result in a negative outcome; taking a chance; risk may involve losing money.

What is risks?

400

ex. banks, insurance and investment companies

Who are professional services to help with making decisions? 

400

Waiting to act on a decision for so long that your choices become limited.

What is procrastination?

400

the demand for goods and services, which affects prices and job opportunities

What is consumer spending?

400

Inflation involves rising prices, meaning you will be able to buy less for your money. If you wait to buy an item later, it may cost more.

What is inflation-risks?

500

Identify the problem or goal.

What is the 1st step in the decision making process?

500

choices; different ways to solve a problem; opportunities to choose among several courses of action.

What is alternatives?

500

(ex. parents, teachers, counselors, clergy, lawyers)

People who might have the kind of experience necessary to provide information, advice and support in making a specific decision?

500

Choosing the first alternative that comes to mind without thinking about the consequences.

What is spontaneity?

500

changes in how much the dollar is worth

What is consumer prices?

500

Interest is the money you pay to borrow money. Banks also pay you interest when you deposit your money there. Interest rates can change, affecting the cost for you to borrow money and the money your savings earn.

What is interest-risks?