What Does the Internal-External Locus of Control Measure

question 87

Multiple Choice

What does the internal-external locus of control measure?

• A) The ways in which a person goes about gathering and evaluating information
• B) A person's value system
• C) The extent to which a person feels able to affect his or her life
• D) A person's tolerance of ambiguity

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Definitions:

Savings Rate

The proportion of disposable income that is saved by individuals or entities, rather than spent, often expressed as a percentage.

Interest Rates

The cost of borrowing money, expressed as a percentage of the amount borrowed, charged by lenders to borrowers for the use of their money.

Optimal Choice

The most efficient and effective decision or selection made from among various alternatives, based on the criteria of maximizing utility or benefit.

Budget Constraint

The restriction on the assortment of goods and services a consumer is able to purchase, determined by their income and the costs of those items.