Consider your last big purchase such as a car, appliances, home repairs, home purchase, computer equipment, college tuition, or another "big-ticket" item, which are often purchased using loans/financing (by borrowing money). Also consider your decision-making process that led you to choose a particular make, model, or brand of the product (or service) you purchased and whether it was the right time to make the purchase. While analyzing your decision, keep in mind everything from interest rates to the prices of complementary and substitute goods are driven by human economic behavior.

Develop an analysis of your decision-making process in which you include the following: Cover page Introduction (discuss the purchase you will discuss and give information on what you will cover regarding the purchase) What did you purchase and what prompted you to make the purchase at that time? Consider your decision-making process that led you to choose a particular make, model, or brand of the product (or service) you purchased. Was it the right time to make the purchase? Discuss substitutes and/or complements you considered prior to making your purchase. Please discuss the sales tax rate that applied to your purchase (6%, 6.5%, 7%, etc.). Explain why your purchase was or was not impacted by the discretionary sales surtax.

Answer rating: 100% (QA)

Influence of Economics on Decision Making Economic simulations assist individuals to evaluate the commercial decision making even if they want to purchase some household goods car computer equipment o... View the full answer