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When a Borrower Fails to Pay Back a Loan According

question 164

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When a borrower fails to pay back a loan according to the agreed-upon terms, it is called:


Definitions:

External Attributions

External attributions are explanations for one's behavior or outcomes based on external circumstances or environmental factors, rather than personal characteristics.

Internal Attributions

The process of attributing behavior to internal characteristics of the agent, such as personality, attitude, or effort.

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and ignore situational factors in explaining others' behavior.

Social Psychology

The scientific study of how people's thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.

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