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This article deals with decision-making as analyzed in psychology.

See also Decision theory.

In psychology, decision-making is regarded as the cognitive process resulting in the selection of a belief or a course of action among several alternative possibilities.

Every decision-making process produces a final choice; it may or may not prompt action.

Decision-making is the process of identifying and choosing alternatives based on the values and preferences of the decision-maker.

Risk is the potential of gaining or losing something of value.

Values (such as physical health, social status, emotional well-being or financial wealth) can be gained or lost when taking risk resulting from a given action or inaction, foreseen or unforeseen.

Risk can also be defined as the intentional interaction with uncertainty.

Uncertainty is a potential, unpredictable, and uncontrollable outcome; risk is a consequence of action taken in spite of uncertainty.

A market is one of the many varieties of systems, institutions, procedures, social relations and infrastructures whereby parties engage in exchange.

While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labor) in exchange for money from buyers.

It can be said that a market is the process by which the prices of goods and services are established.

Markets facilitate trade and enable the distribution and allocation of resources in a society.

Markets allow any trade-able item to be evaluated and priced.

A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf.

ownership) of services and goods.

Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, source of goods for sale (local produce or stock registration), and the threat of military or police force if these rules are broken.

Research comprises "creative work undertaken on a systematic basis in order to increase the stock of knowledge, including knowledge of humans, culture and society, and the use of this stock of knowledge to devise new applications." It is used to establish or confirm facts, reaffirm the results of previous work, solve new or existing problems, support theorems, or develop new theories.

A research project may also be an expansion on past work in the field.

Research projects can be used to develop further knowledge on a topic, or in the example of a school research project, they can be used to further a student's research prowess to prepare them for future jobs or reports.

To test the validity of instruments, procedures, or experiments, research may replicate elements of prior projects or the project as a whole.

The primary purposes of basic research (as opposed to applied research) are documentation, discovery, interpretation, or the research and development (R&D) of methods and systems for the advancement of human knowledge.

Approaches to research depend on epistemologies, which vary considerably both within and between humanities and sciences.

There are several forms of research: scientific, humanities, artistic, economic, social, business, marketing, practitioner research, life, technological,etc.

Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead promises either to repay or return those resources (or other materials of equal value) at a later date.