Economics A-Level
Decision making
What Decision making means in Economics A-Level, as defined for AQA.
Definition of Decision making
Check what you remember
Read the wording for your board, then hide it and explain Decision making in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Economic choices are incremental rather than all-or-nothing, focusing on the next unit and comparing marginal benefit with marginal cost.
Topics that use Decision making
- Consumer behaviour (AQA A-Level)
Related terms
- Economic incentives
- Hypothesis of diminishing marginal utility
- Rational decision making
- Rationality
- Utility maximisation
- Law of diminishing marginal utility
- Marginal utility
- Total utility
Using Decision making in the exam
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