Trait Theory Attempts to

question 171

Multiple Choice

Trait theory attempts to

• A) show how development of personality is a lifelong process.
• B) describe and classify people in terms of their predispositions to behave in
• Certain ways.
• C) determine which traits are most conducive to individual self-actualization.
• D) explain how behavior is shaped by the interaction between traits, behavior, and

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Definitions:

Implicit Costs

The opportunity costs that arise when a company uses internal resources without a direct payment.

Explicit Costs

Direct payment made to others in the course of running a business, such as wages, rent, and materials.

Accounting Profits

The net income of a company determined by subtracting total expenses from total revenues, according to generally accepted accounting principles.

Economic Profits

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, representing profit beyond the normal rate of return.