Title: Describe a decision-making process.
Course: Principles of Business and Marketing (12051-18) > Section: Understanding the Role of Economics in a Global Economy

Description should include the concepts of utility, opportunity cost, and opportunity benefit, as well as an outline of the decision-making process, as follows:

- Define the problem, including the criteria for evaluating solutions.
- Identify alternative solutions.
- Evaluate advantages and disadvantages of the alternative solutions, including opportunity costs and benefits.
- Choose the best alternative.
- Develop and implement a plan of action.
- Review the decision.