Economics GCSE
Rational decision making
What Rational decision making means in Economics GCSE, as defined for AQA.
Definition of Rational decision making
Check what you remember
Read the wording for your board, then hide it and explain Rational decision making in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
A process where agents weigh up the costs and benefits of different alternatives to make a choice.
Topics that use Rational decision making
- Making choices (AQA GCSE)
Related terms
- Economic decision making
- Maximisation of utility, profit, and welfare
- Opportunity cost
- Scarcity
- Scarcity and resource allocation
- Costs and benefits analysis
- Scarcity and the economic problem
- Trade-offs
Using Rational decision making in the exam
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