0
It means that the incentive is in the form of money.
Otis Steuber
Wiki User
∙ 12y agoWell if the question is what is the incentive function ? there are 3main function of price the incentive function is one of them and this provides the incentive for firms to shift resources in to producing good and services whose relative price has risen.
Add your answer:
Earn +20 pts
What is the connection between incentives and consumer sovereignty in a free market economy?
Consumers are free to spend their income in such a way as to best satisfy their wants, which can be motivated by incentives.
How do you think the incentives of the colonists differed from the incentives of the Virginia company?
because the incentives of the
Why does it take so long to put fiscal changes into effect?
Fiscal policy affects the economy by changing incentives. Taxing an activity tends to discourage that activity.
Because prices serve as incentives in market economy What will be large increase in price of a good?
People would consume less of the good and look for substitutes. (study islands)
Why the factor of incentive is important for a supporter of the free enterprise economic system?
Classical economics, the kind that supports free enterprise, is basically a behavioral science with one rule:People respond to incentives. If you understand what someone's incentives are, you can understand what they will do.To answer this question as an essay, here are some subjects to explore: What are incentives? How well do people understand their own incentives? In what ways can people's incentives be changed or controlled?A supporter of free enterprise wants a system where as many people as possible can understand and respond to their own self interest, as defined by their incentives. Since you are writing this question from the perspective of a supporter, think about things that worry supporters of free enterprise, like government intervention. Government intervention distorts incentives, sometimes creating negative effects in the economy. These are the subjects you will want to talk about.
What is the connection between incentives and consumer sovereignty in a free market economy?
Consumers are free to spend their income in such a way as to best satisfy their wants, which can be motivated by incentives.
disadvantage of planned economy?
Lack of incentives to work hard in planned economy Sometimes poor quality of goods and shortages Failure to meet set ideals or consumer needs. Lack of varieties of goods and services Consumers can choose only those goods or services which are produces and decided by the government
What statement explains what happened to the agricultural economy in russia under communism?
Lack of incentives led to smaller harvests.
What did South Korea do to turn its war-ruined economy around?
used foreign aid, free trade and business incentives.
How did industrilization impact the American economy?
Industrialization impacted the American economy in a variety of ways. Urbanization occurred due to immigration, when people moved from rural areas in search of steady employment.
Why did the Soviet experiment fail?
The soviet experiment failed because societies can prosper only when the individual has proper incentives for his labor. Because the entire economy was centrally planned, and all industry was owned by the state, there were no incentives for managers and workers to innovate or improve their performance.
How do you think the incentives of the colonists differed from the incentives of the Virginia company?
because the incentives of the
Why does it take so long to put fiscal changes into effect?
Fiscal policy affects the economy by changing incentives. Taxing an activity tends to discourage that activity.
Because prices serve as incentives in market economy What will be large increase in price of a good?
People would consume less of the good and look for substitutes. (study islands)
Why the factor of incentive is important for a supporter of the free enterprise economic system?
Classical economics, the kind that supports free enterprise, is basically a behavioral science with one rule:People respond to incentives. If you understand what someone's incentives are, you can understand what they will do.To answer this question as an essay, here are some subjects to explore: What are incentives? How well do people understand their own incentives? In what ways can people's incentives be changed or controlled?A supporter of free enterprise wants a system where as many people as possible can understand and respond to their own self interest, as defined by their incentives. Since you are writing this question from the perspective of a supporter, think about things that worry supporters of free enterprise, like government intervention. Government intervention distorts incentives, sometimes creating negative effects in the economy. These are the subjects you will want to talk about.
What are some capital incentives?
There are many capital incentives. Examples of capital incentives includes Tenerife, Grand Canaria, and Lanzarote. One can find out more about capital incentives at their official website.
What is the role of non-financial incentives over the financial incentives?
Non-financial incentives are gifts given to an employee and financial incentives is money given to an employee for doing a good job. Non-financial incentives do not raise moral like a money gift does.
