Question

Which term describes the process of making an economic decision by considering both the advantage and the problems that might arise from the decision

Answer 1

Cost-benefit analysis

Step-by-step explanation:

A.pex

Answer 2

Rational Decision Making

Step-by-step explanation:

Rational Decision Making is a term that describes the process that involves thorough analysis and assessment of a decision by considering the pros and the cons of the outcome of such decision before choosing or taking action on the selected decision.

Hence, the term that describes the process of making an economic decision by considering both the advantage and the problems that might arise from the decisions called RATIONAL DECISION MAKING