Final answer:
In decision-making, various approaches can be utilized, such as economic approaches that involve cost/benefit analysis and interpreting tradeoff diagrams, and approaches based on normative or positive statements.
Step-by-step explanation:
In decision-making, decision-makers can employ various approaches, each differing in how they evaluate alternatives. One common method is the economic approach which relies heavily on rational analyses and often uses tools like cost/benefit analysis. This method involves a systematic comparison of the costs and benefits associated with each alternative. A tradeoff diagram can be utilized to visualize the compromises between different factors, aiding in the comprehension of possible outcomes.Moreover, decision-making can be influenced by different types of statements. Normative statements express an opinion on what ought to be and are driven by values and ethics. In contrast, positive statements are based on objective analysis and factual data. Distinction between these statements is crucial as they guide the approach taken by the decision-maker. Normative could lead to decisions influenced by what is perceived as 'good', while positive relies on empirical evidence.In conclusion, decision-makers must understand these approaches and tools to effectively evaluate the alternatives and reach a decision that aligns with their goals and values.