An Individual Who Believes in the Statement,"Your Fate Was Decided

question 84

Multiple Choice

An individual who believes in the statement,"Your fate was decided the day you were born," is said to have which of the following attribution?

• A) External locus of control
• B) Internal locus of control
• C) High consensus
• D) Low distinctiveness

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Definitions:

Imperfect Information

A situation in which all parties in a transaction do not have the same information, leading to inefficiencies in markets.

Market Efficiency

The degree to which stock prices reflect all available, relevant information, making it impossible to consistently achieve higher returns on investment.

Truth-in-Advertising

Legal requirements and ethical guidelines that ensure advertising is not misleading or false, protecting consumers.

External Cost

A cost that is not borne by the producer or consumer directly involved in a transaction, but rather by a third party or society as a whole, such as pollution.