Economic decision making refers to the process of making choices about how to use resources in order to achieve the best possible outcome. It's about weighing the costs and benefits of different options and choosing the one that provides the highest net benefit. For example, if you're deciding whether to buy a car, you'll need to consider the cost of the car, the cost of fuel and maintenance, and the benefits of having a car, like the convenience and flexibility it provides. You'll then need to weigh all these factors and make a decision based on which option provides the greatest net benefit.