Rational Choice Theory: Rational choice theory suggests that individuals make decisions by weighing the costs and benefits associated with each option to maximize their own self-interests.
Trade-off: A trade-off occurs when choosing one option means sacrificing another. In decision-making, it often involves considering both advantages and disadvantages before settling on the best course of action.
Risk Assessment: Risk assessment involves evaluating potential risks associated with different options before making a decision. This helps identify potential challenges or uncertainties that may impact the outcome.