A person under 15 might want to turn 15 in order to get a drivers permit.
Another example is a person in a small town might want a larger restraunt.
jAn example of a need is a sick person needing a certain medicine brand.A second example is a human needing food and water to survive.
An example of an economic want of mine is needing shelter so I don't die of hypothermia.A second example is needing food and water to survive and not starve.A third example is needing to go to school to get an education.
An example of a want is wanting a new carpet because it is not the exact right color.A second example is wanting a spicific type of mustard.A third example is wanting to go to a certain restraunt.
.1.Identify the situation. 2.Possible course of action. 3.Determine the pros and cons. 4.Make your decisions. 5.Evaluate your decision.
A choice I have made was weather to put hot sause on my chipotle bowl.I identified the situation by thinking that this is something that happens a lot.I looked at the possible cource's of action I could make,by thinking what would taste better.I determaned the pros and cons,the pros were it would taste better but the con was that my breath would smell.I made my decision after thinking it over and deciding that putting Tabasco on it would be better.I then evaluated the decision and got the result I wanted.
Decision making process
Personal decision making is when people make a non formal decision that usually only affects them.
Business decision making is usually formal and is involved with big decisions and requires the full decision making process.
An example of a private want is an office might want a new photo copier and an example of a public want is a city wanting a new highway.
Human resources-People who make the goods and for which are paid,workers
Natural resources-Raw materials from nature that are used,water,trees and minerals.
Capital resources,-Materials used to make goods and services.Money,land and buildings.
Entrepreneurial resources,Used by people who see opportunity and start a business. An example is knowledge in a particular field.
You as a consumer play a role in the economy by paying for something,the money goes to the company,the company uses the money to make more products to sell,people buy the product.
An example of a natural resources in missouri is the coal and iron.
The three economic questions are,What should be produced,How should it be produced,Who should share in what should be produced.
The three types of economies are Market economy,Command economy and mixed economy.