Final answer:
Self-regulation, implicitly referred to as will power, is the capacity to control one's own thinking in pursuit of long-term goals. Self-efficacy refers to the belief in one's own abilities, while locus of control indicates whether one attributes outcomes to internal efforts or external forces.
Step-by-step explanation:
Self-regulation is the capacity to control one's own thoughts, emotions, and behaviors in the pursuit of long-term goals. It involves using internal and external feedback to maximize goal attainment. This concept is synonymous with will power, which refers to the ability to delay gratification and forego small, immediate rewards in favor of larger, future rewards.
An illustrative example of self-regulation and will power is the classic marshmallow test conducted by Walter Mischel, where children had to resist eating a marshmallow immediately to obtain a greater reward later. People with high self-efficacy believe in their ability to reach their goals, view challenges positively, and are resilient in the face of setbacks.
Another important concept in understanding human behavior is the locus of control. Introduced by Julian Rotter, it suggests that individuals with an internal locus of control believe they can influence their life outcomes through their own actions, while those with an external locus of control attribute outcomes to external forces beyond their control. Furthermore, high self-efficacy and an internal locus of control typically lead to better academic performance and career achievements, as individuals feel a greater sense of control over their lives and actions.