Which of the Following Are External to the Individual but Still

question 27

Multiple Choice

Which of the following are external to the individual but still affect his/her behavior and performance?

• A)Motivations
• B)Role perceptions
• C)Situational factors
• D)Abilities
• E)Resolutions

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Definitions:

Economic Profits

The margin found by reducing total revenue by the sum of clear and concealed costs.

Market Price

The present price at which a service or asset is available for purchase or sale in the open market.

Economic Profits

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs, representing excess earnings over the normal rate of return.

Perfectly Competitive Market

A market structure characterized by many buyers and sellers, identical products, and no barriers to entry or exit, leading to efficient price determination.