What is self-efficacy based on, according to Bandura's social learning theory?

Both 1 and 2

The notion of self-efficacy is based on Bandura’s social learning theory. Bandura’s initial studies showed that children and adults learned behaviour by observing and imitating others. People’s expectations of mastery or achievement and their convictions about their own effectiveness also determine the types of behaviour in which they would engage, as also the amount of risk they would undertake. A strong sense of self-efficacy allows people to select, influence, and even construct the circumstances of their own life. People with a strong sense of selfefficacy also feel less fearful.