Decison Making

Decisons Decisons Decide

Define

Today, all of the people in the world buy and sell things. Without buying and selling there would be no money, no economic activity. Now that we are growing we as children need to make our own decisions for the use of money. As humans we make proper or improper decisions based on many things. Here are my decisions for what to purchase.

Estimate Resources

My decisions are going to be two packs of gum. The flavors are different it all depends on what I want today. The option is a gum called minty cheers. Or a gum called vanilla bubble; both companies are reliable for making gum. But has a higher price than the other.

Alternatives

Here are my resources I have just $2.00 to spend it is my own money. I have transportation that my parents provide. A grocery store but I just need a gas station they have lower prices. Then I have the gas station nearby which I need for lower prices. I have my parents which can help find a decision.

Information

I gathered the most information that I could, this is the information. The mint gum is $1.50 and it weighs 1.5 grams it comes with 20 pieces of the gum. Information I gathered for the vanilla gum is the following. The vanilla gum is $2.00 it comes with 30 pieces of gum. The weight for the package is 2.5 grams, proving that more gum comes in the vanilla gum package. Both vanilla and mint gums have no tax.


Decide

My decision based on the economic calculations, which include price and quantity is the vanilla gum. Because the gum comes with more pieces. Any consumer wants more, but for a lower price. The price was acceptable but not the best. Because the gum had a difference of ten but it was cheaper.


Evalute the Decison

I have evaluated my decision which I found to be bad. The gum was different than I thought. I got buyers repent from using my money for something not that good. The gum was stale and did not have a vanilla taste. I should have bought the mint gum. Now I know the company is unreliable, this has taught me to spend the money wisely.


CONCLUSION

This scenario has taught me to use your money wisely. Without this moment then my future decisions could be not good. Many of us have to go through these scenarios because misuse of money. Many buyers get buyers repent for not elaborating the choice. I will always need to use the D.E.C.I.D.E to make better choices to soot my needs.



BY. LUCAS TASAYCO