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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
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What best explains why the profit motive often leads to efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
Which best explains the profit motive?
The desire to make money through the production of goods and services.
What is your personal view on profit-motive?
motive only of profit! BOOM! stop copying from the internet!
Why in a free market system producers are motivated to reduce costs and increase revenues?
The Profit Motive
Which best explains the profit motive pushes producers to do?
The profit motive drives producers to maximize efficiency and innovation by seeking ways to reduce costs and improve products or services. This competitive pursuit encourages them to respond to consumer demands and preferences, leading to better quality and variety in the marketplace. Ultimately, it fosters economic growth as producers strive to capture larger market shares and increase their profits.
What best explains why the profit motive often leads to efficiency and innovation?
The competition to make profit drives producers to eliminate waste.
Which best explains the profit motive?
The desire to make money through the production 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.
What is your personal view on profit-motive?
motive only of profit! BOOM! stop copying from the internet!
Why in a free market system producers are motivated to reduce costs and increase revenues?
The Profit Motive
Which best explains the profit motive pushes producers to do?
The profit motive drives producers to maximize efficiency and innovation by seeking ways to reduce costs and improve products or services. This competitive pursuit encourages them to respond to consumer demands and preferences, leading to better quality and variety in the marketplace. Ultimately, it fosters economic growth as producers strive to capture larger market shares and increase their profits.
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.
What is the motive of bank?
A bank is a business so its main motive is to make a profit.
Incentive for a person to make money for himself?
profit motive
What is profit motive?
Profit is the difference between cost and proceeds. If the proceeds are more than the cost then one is said to be in profit. Having motivation to achieve proceeds more than the cost is known as profit motive.
How do partnership support the profit motive of entrepreneurs?
Partnerships create better results and hence a larger profit for the entrepreneur (profit motive). When two entrepreneurs is one unit instead of two separate, they have a bigger chance of making a profit.
