People with an External Locus of Control Are

question 9

Multiple Choice

People with an external locus of control are:

• A) more achievement oriented.
• B) better able to handle complex information and problem solving.
• C) more independent.
• D) easier to motivate.
• E) easier to lead.

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Definitions:

Marginal Cost

The increase in cost that arises from producing one additional unit of a good or service.

Competitive Industry

An industry in which numerous producers supply a homogeneous product or service, leading to competition over price and quality.

Marginal Cost

The extra expenditure needed to manufacture one more unit of a good or service.

Average Cost

The total cost of production divided by the quantity of output produced; it's a measure of how much it costs, on average, to produce one unit of output.