An Example of an Internal Locus of Control Would Be

question 15

Multiple Choice

An example of an internal locus of control would be someone who blames ___ for their bad grade.

• A) Teacher
• B) Work
• C) Effort
• D) Intelligence

---

Definitions:

Explicit Costs

Dollar costs incurred by business firms, such as wages, rent, and interest.

Implicit Costs

The opportunity costs that are not directly incurred but represent the loss of alternative benefits when choosing one option over another.

Explicit Costs

Direct, out-of-pocket payments for goods and services required to run a business.

Accounting Profit

Sales minus explicit cost. Implicit costs are not considered.