I'm in need of help really bad. I been sitting here( I got a serious butt ache) trying to figure out this answers and I only got question one. Plz at least explain these questions to me. I would highly appreciate it. :) you don't need to explain # 1 I got the answer.

1. Give an example of a fairly major purchase decision you've made in your lifetime. How did you justify the purchase? How did you prepare for it financially once you decided to make the purchase? (5 points)

2. What aspects of your decision-making process fit the description of a rational choice? Did you consider costs and benefits? Did you pay attention to both monetary and non-monetary factors? Did you consider opportunity costs? Explain. (5 points)

3. What information did you have or obtain that helped make this a well-informed decision? Was there something you didn’t know beforehand that you wish you had? (5 points)

4. Were there any parts of your decision-making process that weren’t rational? If so, describe one irrational element in your decision-making process. If not, describe one irrational economic decision you have made in your life. (5 points)

What you write for 2, 3, and 4 depends heavily on what you wrote for 1.

What did you write for question 1?

#1

My 2013 Subaru Legacy 2.5i Premium is a fairly major purchase decision I’ve made in my lifetime. I bought it because I could afford it (it was used), I wanted a car and I thought this one was appropriate for me. My parents opened a bank for me when I was young and put money in to it yearly. Also, I work at a restaurant and save up money which allowed me to buy it.

I now it depends on Q 1, but I need explanations for 2, 3 , and 4.

Those questions seem pretty obvious to me. Please look up words that you are not 100% sure of here:

http://www.dictionary.com or http://www.answers.com

Then let us know what your SPECIFIC questions are.

1. Give an example of a fairly major purchase decision you've made in your lifetime. How did you justify the purchase? How did you prepare for it financially once you decided to make the purchase

How can you justify the purchase? How should you prepare financially once you have decided to make the purchase? I need help please

Sure, I'd be happy to help you understand these questions.

Question 1 is asking you to provide an example of a major purchase decision you have made in your lifetime. You should explain how you justified the purchase and how you prepared for it financially. This could be anything from a car, a house, or even a big vacation. The key point is to explain the thought process behind why you made that purchase and how you managed the financial aspect of it.

Moving on to question 2, it is asking you to analyze the decision-making process you used for your purchase and identify aspects that fit the description of a rational choice. Consider whether you weighed the costs and benefits of the purchase, whether you considered both monetary and non-monetary factors, and whether you took into account the opportunity costs involved. You should explain how these aspects influenced your decision-making process.

Question 3 asks about the information you had or obtained that helped you make an informed decision. Think about the research you did, the advice you sought, or any other sources of information that influenced your decision. Additionally, reflect on whether there was something you didn't know beforehand that you wish you had known, as this shows self-awareness of potential gaps in your decision-making process.

Finally, question 4 inquires about any parts of your decision-making process that may not have been rational. If there were any irrational elements, describe one of them. Alternatively, if you believe that your decision-making process was entirely rational, you can describe a different irrational economic decision you have made in your life. The key here is to identify a decision that was driven by emotions, biases, or other factors that may not align with rational decision-making principles.

Remember, these are just explanations of the questions. To fully answer them and earn the points, you need to provide specific examples from your own life experiences.