The Relatively Stable Pattern of Behaviours and Consistent Internal States

question 112

Multiple Choice

The relatively stable pattern of behaviours and consistent internal states that explain a person's behavioural tendencies refers to:

• A)locus of control.
• B)job satisfaction.
• C)personality.
• D)motivation.
• E)values.

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Definitions:

Entry Barriers

Obstacles that make it difficult for new competitors to enter an industry, including high startup costs, access to technology, and strict regulations.

Monopolistic Competition

A market structure in which many companies sell products that are similar but not identical, allowing them to have a degree of market power.

Nonprice Competition

A marketing strategy where businesses focus on product differentiation, quality, or service rather than altering prices to compete with other firms.

Allocative Efficiency

A state in which resources are allocated in a way that maximizes the overall utility or welfare of society, ensuring that every good or service is produced up to the point where the last unit provides a benefit to consumers equal to the cost of producing it.