Examlex
Self-efficacy is a person's belief in his/her abilities to accomplish desired outcomes. Who conceived the idea of self-efficacy?
Neoclassical Economic Models
These models focus on how the market equilibrium is achieved through the supply and demand for goods and services, emphasizing consumers maximizing utility and firms maximizing profit.
Heuristics
Simple, efficient rules or methods that people often use to form judgments and make decisions, based on limited information.
Utility-Maximizing
A principle or approach in economics that suggests individuals allocate their resources in a way that maximizes their satisfaction or utility.
Heuristics
Mental shortcuts or rules of thumb that simplify decision-making processes, often at the cost of perfect accuracy or thoroughness.
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