Question
Are judgement and decision-making interrelated processes? Explain.
Solution
Yes, judgement and decision-making are interrelated processes.
1. In decision-making the problem before us is to choose among alternatives by evaluating the cost and benefit associated with each alternative. For example, when you have the option to choose between psychology and economics your decision will be based on future prospects.
2. Decision making differs from other type of problem solving. In decision-making we already know the various solutions of choices.
