Because costs and benefits are both subjective, a person's decision will always be based on what?

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Leila

Social Studies

1 January, 07:40

Because costs and benefits are both subjective, a person's decision will always be based on what?

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Maeve Mckenzie · Answer 1

Economic analysis on a good or product is an important basic tool for comparing what is good is better than the other. This factors in the costs and benefits of the goods.

Now, because of its subjectivity, many people’s decision when choosing a certain good will depend on their unconscious thought or "gut".