Kindly answer the following questions in detail, substantiating with facts and/or statistics as necessary.

1.Why do managers make bad decisions?

2.Identify a problem in economics (most preferably a pressing issue in current context), and find a solution to the problem by following the decision making process: Identify the Problem Determine the objective(s) Identify at least five (5) possible solutions Using your judgement, select the best possible solution.

3.Why do you think that the solution you chose in (#2) is the best possible solution?