Final answer:
The theory that attempts to explain how a person comes to decisions to take action and how he/she translates that decision into action is economic theory.
Step-by-step explanation:
The theory that attempts to explain how a person comes to decisions to take action and how he/she translates that decision into action is economic theory. Economists study human behavior and decision-making in the context of scarcity and resource allocation. Economic theory explains that individuals make choices based on their preferences, constraints, and the costs and benefits of different options.