Next week is Bob’s birthday and he will receive RM100.00 for his present. He saw a pair of jeans at the mall that was RM95.00; however, he also needs new shirts, new shorts, and some sports shorts. His RM100.00 could purchase all of these things or it could purchase one pair of designer jeans.   All the students at the college wear these jeans. Bob states, “If only I had a pair of these jeans, I would be popular. How could Bob make a wise decision?     Reflect: What is the critical thinking and reasoning process you have applied to make the decision for Bob?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Bob loves clothes. His favorite activity is to go shopping at the mall and try on new clothes. He looks forward to the day when he has a job so he can buy all the clothes he wants.

 

Next week is Bob’s birthday and he will receive RM100.00 for his present. He saw a pair of jeans at the mall that was RM95.00; however, he also needs new shirts, new shorts, and some sports shorts. His RM100.00 could purchase all of these things or it could purchase one pair of designer jeans.

 

All the students at the college wear these jeans. Bob states, “If only I had a pair of these jeans, I would be popular. How could Bob make a wise decision?

 

 
Reflect: What is the critical thinking and reasoning process you have applied to make the decision for Bob?
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