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Decision Making

Terms in this set (16)

Decision making process
a series of steps that can help you identify and evaluate possibilities to make a good choice.
Step 1 in the decision making process
define your needs and wants
Step 2 in the decision making process
analyze your resources
Step 3 in the decision making process
identify your choices
Step 4 in the decision making process
gather information
Step 5 in the decision making process
evaluate your choices
Step 6 in the decision making process
make a decision
Step 7 in the decision making process
plan how to reach your goal
Criteria
standards of judgment for comparing and evaluating choices.
Consequences
an effect or an outcome
Procrastinate
to put off deciding or doing something.
Prioritize
to order things from first to last or from most important to least important
Opportunity Cost
what you give up to get something else.
Trade Off
a compromise; all choices not chosen.
Instant Gratification
the satisfactions gained by more impulsive behaviors: choosing now over tomorrow.
Delayed Gratification
the ability to resist the temptation for an immediate reward and wait for a later reward.
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