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two methods to make a decision
decision making process: more than two options
pros & cons chart: two options
six steps of decision making process (doc mater)
define the problem
obtain accurate information
compare choices
make a decision
take action (action to implement choice)
reevaluate your choice (3-6 months after)
trade off
getting something in return for giving up something else - created opportunity costs
opportunity cost
the value of what you give up during a trade off (doesn’t have to be money)