According to Vroom's Expectancy Theory, _____ Represents an Individual's Belief

question 56

Multiple Choice

According to Vroom's expectancy theory, _____ represents an individual's belief that a particular degree of effort will be followed by a particular level of performance.

• A)goal difficulty
• B)valence
• C)instrumentality
• D)self-esteem
• E)expectancy

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Definitions:

Numeraire Good

A benchmark or standard commodity against which the relative price of all other goods and services is measured in an economy.

Initial Endowment

The initial set of assets, goods, or resources that individuals or entities possess before entering into any economic transactions or exchanges.

Pareto Optimal Allocation

An economic state where resources are allocated in such a way that it is impossible to make any individual better off without making at least one individual worse off.

Utility Function

A mathematical representation of how a series of choices align with an individual's preferences, used in economics to model satisfaction or happiness.