Final answer:
Bandura's social learning theory describes learning as an interactive process including observation, imitation, and self-assessment based on vicarious experiences and cognitive evaluations such as reciprocal determinism and self-efficacy. Option 3 is correct.
Step-by-step explanation:
Bandura's social learning theory of development describes learning as an interaction of observing, imitating, and self-evaluating. The theory posits that much learning is vicarious, meaning that it occurs through observational learning. This happens when individuals watch others' behaviors and their outcomes, deciding if they should imitate those behaviors based on whether they see the model being reinforced or punished.
To further explain, Bandura identified steps such as attention, retention, reproduction, and motivation as part of the modeling process, which differs from mere imitation by involving a complex set of cognitive processes including reciprocal determinism and self-efficacy. Observational learning not only affects the acquisition of new behaviors but also influences a person's personality development and cognitive growth.