What term describes the ability to make rational decisions regarding one’s personal well-being?

The correct term that describes the ability to make rational decisions regarding one’s personal well-being is "Decision-making Capacity." This term encompasses an individual's ability to understand the information relevant to a decision, appreciate the potential consequences of that decision, reason about treatment options, and communicate a choice.

"Competence" is often used interchangeably with decision-making capacity, but in a clinical context, competence is a legal term that generally refers to a person's ability to stand trial or enter into contracts, while decision-making capacity is more focused on specific health care decisions.

"Informed consent" refers to the process by which a patient receives information about a treatment or procedure and gives permission for it, but it relies on the individual having the necessary decision-making capacity to understand and evaluate the information.

"Judgment capacity" is not a widely recognized term in medical or legal contexts, and while it suggests the ability to make sound decisions, it does not specifically address the criteria required for making informed healthcare decisions as thoroughly as decision-making capacity does.