Final answer:
Economic decision-making suggestions do not include the informal and intuitive practices that individuals often use in real-life situations, which rely more on shortcuts and less on extensive information-processing.
Step-by-step explanation:
The suggested strategies for making decisions in the context of economics do not include informal or heuristic-based decision-making practices commonly observed in real-life situations. This omission is noted in the first objection that people, firms, and society do not act according to the structured, information-heavy approach that economic models often suggest. Instead, individuals tend to rely on shortcuts and intuitive judgment rather than drawing budget constraints or contemplating production possibilities frontiers before making choices, such as personal purchases or policy decisions.