Final answer:
The process described where people evaluate the likelihood of their efforts leading to desired results is called Expectancy theory, which is related to how people forecast future events based on available information or past experiences.
Step-by-step explanation:
The process people use to evaluate the likelihood that their efforts will lead to the results they want and the degree to which they want those results is called Expectancy theory. This theory suggests that an individual's motivation to complete a task is influenced by their expected outcome: the belief that their effort will lead to desired performance and the value they place on the outcome. The concept relates closely to rational expectations and adaptive expectations. While rational expectations imply that people use all available information to make forecasts about future events, adaptive expectations suggest that people rely on past experiences and adjust slowly as circumstances change.