Mark Purchased a Very Expensive Automobile on Credit

question 8

Essay

Mark purchased a very expensive automobile on credit. Within a week, Mark discovered that a tune-up was necessary, for he was in the habit of driving at an excessive rate of speed. When the car was repaired, the bill was more than $1,000. Mark does not have the money to pay for the car repairs or the monthly car payments. The credit company as well as the repair shop are concerned over who has priority of repayment. Who has priority and why?

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Definitions:

Intrinsic Motivation

The drive to engage in an activity for its own sake, due to the personal satisfaction and fulfillment it provides, without external incentives.

Extrinsic Motivation

Refers to motivation driven by external rewards such as money, fame, grades, and praise.

Intrinsic Motivation

The drive to engage in activities for their own sake, for the pleasure and satisfaction derived from participation, rather than for some separable consequence.

Extrinsic Motivation

Motivation that is driven by external rewards such as money, fame, grades, and praise.