Reflect on a real-life decision-making process and apply the rational decision-making model to analyze it. Share a Real-Life Decision Example, Describe the Decision Choose a real-life decision: Deciding whether to buy a new house or used house. Apply the Rational Decision-Making Process Using the rational decision-making model we've covered in class, break down the process of making that decision. The model typically involves these steps: Problem Identification: What was the issue or problem that required a decision? Information Gathering: What information was needed to make the decision, and how was it gathered? Alternatives Consideration: What options were considered? Were there multiple solutions to the problem? Evaluation of Alternatives: How did you or the decision-maker weigh the pros and cons of each alternative? Decision Making: What final choice was made? Why was it selected? Implementation: What actions were taken as a result of the decision? Review: How did the decision play out? Was the outcome as expected? Be sure to refer to the literature on decision-making and make connections to theories we've discussed in class for example bounded rationality, utility theory, individual perspective, cultural or societal perspective, political systems, economic conditions, and social expectations