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Which of the following is an essential part of making a rational choice?

  • Question 7c of 25 - Budgeting and decision-making

  • Maximum Attempts: 1
  • Question Type: Multiple Choice
  • Maximum Score: 2
  • Question: Which of the following is an essential part of making a rational choice?
  • Answers:
  1. Balancing financial and non-financial goals.
  2. Conducting a cost-benefit analysis.
  3. Calculating monetary values.
  4. Evening out utilities.

The correct answer is: Conducting a costbenefit analysis. A rational choice is a decision based on comparing the benefits and costs of an action.

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