Examlex
There is no longer an opportunity cost after a homeowner pays off the mortgage.
Law of Effect
A principle of behavior psychology suggesting that actions which produce rewards tend to be repeated, while actions that produce discomfort are avoided.
Positive Outcomes
Favorable, beneficial, or desirable results from actions, decisions, or situations.
Fundamental Attribution Error
Overestimates internal factors and underestimates external factors as influences on someone’s behavior.
Situational Factors
External conditions or events that influence an individual's behavior or outcomes, often beyond their control.
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