Arrange the following steps in the process of making a daily economic decision based on limited resources: A) Identify competing desires, B) Evaluate the trade-offs, C) Allocate resources accordingly, D) Assess the outcome of the decision.

When making a daily economic decision with limited resources, the first step is to identify competing desires, which means figuring out what options you have and what you want most. Next, you evaluate the trade-offs by considering what you will gain or lose with each choice. After that, you allocate resources accordingly, deciding how to use your time, money, or effort to satisfy your chosen desire. Finally, you assess the outcome of the decision to see if it met your needs or if you would choose differently next time. For example, if you have $10 and want to buy lunch or a book, you first think about what you want more, weigh the benefits of each option, spend the money on the choice you make, and later reflect on whether you enjoyed that lunch or book.