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Back to Economics Rules
Making a decision with the P.A.C.E.D.
model
Remember, PACE your decision.
| Problem |
1. List your problem |
| Alternatives |
2. List the alternatives |
| Criteria |
3. Identify your criteria (what's
important to you) |
| Evaluate |
4. Evaluate the alternatives
using the criteria (use + & - or smiley faces) |
| Decide |
5. Make your decision |
The Party
Sam's family was having a big party for her
birthday, and about 100 people were coming. They wondered what they could cook
as a main course to feed everyone. Sam suggested hot dogs, her brother said
spaghetti, and her mom said pizza (delivery of course). The hot dogs and
spaghetti would take more time to prepare than getting pizza delivered, but the
pizza would cost more. The spaghetti would be the messiest; both in preparation
and serving. Lastly, not everyone likes hot dogs or spaghetti, but most people
like pizza. In the end, they decided to have pizza for the main course. Their
next choice would have been hot dogs.
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Problem:
What
to serve at the party?
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CriteriaØ
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Is
it quick?
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Is
it cheap?
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Will
everyone like it?
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AlternativesÚ
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Hot
Dogs
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K
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K
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L
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Spaghetti
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L
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K
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L
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Pizza
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J
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L
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J
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Decision:
Pizza-because
it’s quick and most people like it.
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Opportunity
Cost:
Hot
Dogs
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[ Up ] [ Questions for Wishes and Rainbows ] [ Mrs. Maloney's Class KWL ] [ Toys We Produced ] [ Resources Slide Show ] [ Economic Words ] [ Wishes and Rainbows Answers ] [ The Prices is Right Answers ] [ Make a Choice ]
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