A(n) _______ Is a Single Firm with _______ , Whereas

question 16

Multiple Choice

A(n) _______ is a single firm with _______ , whereas _______ implies an industry with ________ firm(s) who have (has) _______ .

• A) oligopoly; no barriers to entry; monopoly; many; easy entry and exit
• B) monopoly; barriers to entry; monopolistic competition; many; easy entry and exit
• C) monopoly; barriers to entry; oligopoly; few; no barriers to entry
• D) monopolistic competitor; barriers to entry; monopoly; one; barriers to entry

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Definitions:

Self-efficacy

The belief in one's abilities to organize and execute the courses of action required to manage prospective situations.

Reciprocal Determinism

Bandura’s explanation of how the factors of environment, personal characteristics, and behavior can interact to determine future behavior.

Locus of Control

The tendency for people to assume that they either have control or do not have control over events and consequences in their lives.

Reciprocal Determinism

A concept in psychology, proposed by Albert Bandura, that human behavior is influenced by personal factors, the environment, and behavior itself, all of which influence each other reciprocally.