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The profit motive states that the ultimate goal of any business in a free market is to make money for its owner and employees. This drives businesses to increase revenue and decrease costs wherever possible while staying in and expanding business.
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Why the profit motive often leads to efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
Why the profit motive often leads efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
What is the main force behind the decisions made by producers in a free-market society?
To single out a "main" force as the question asks, that would be the concept of supply & demand. Without an understanding of this "force" that influences the way businesses operate, it becomes a handicap.
What best explains why the profit motive often leads to efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
What does profit incentive mean?
profit incentive, or profit motive. This desire motivates entrepreneurs to establish new businesses and produce new kinds of goods and services.
Why the profit motive often leads to efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
Why the profit motive often leads efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
What is the main force behind the decisions made by producers in a free-market society?
To single out a "main" force as the question asks, that would be the concept of supply & demand. Without an understanding of this "force" that influences the way businesses operate, it becomes a handicap.
What best explains why the profit motive often leads to efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
What does profit incentive mean?
profit incentive, or profit motive. This desire motivates entrepreneurs to establish new businesses and produce new kinds of goods and services.
How do you use profit motive in a sentence?
They had a profit motive, so they did not care about what the work did to the environment. Their profit motive helped progress their ideas for doing business.
Explain why producers have to have the profit motive?
Every producer must make a profit in order to remain in business. Without profits, businesses disappear.
Why has globalization result in increasing environmental damage around the world?
The profit motive drives companies that are competing in the global marketplace to exploit natural resources.
What best explains the profit motive?
The profit motive of both individuals and businesses is based on the desire to increase their net wealth by engaging in a profitable business or financial transaction. The profit motive is best explained by understanding how profit can be the overriding motivation behind human activity and the impetus for economic progress and widespread wealth creation. The Wealth of Nations, written by economist Adam Smith in 1776, has achieved world renown fame for explaining how the profit motive is an integral necessity for building a nation's wealth. call me (501) 456-3483
Why in a free market system producers are motivated to reduce costs and increase revenues?
The Profit Motive
In a freemarket system producers are motivated to reduce costs and increase revenues because of which of the following?
Profit Motive
What gives companies an anti-competitive impulse?
An anti competitive impulse is given to a company through the profit motive.
