BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The primary incentive for a business to produce goods or services in the United States is profit. Demand is represented by wanting an expensive leather jacket without having the money to buy it. The demand is low and supply is high for unskilled workers in most age groups.

Detailed explanation-2: -Why is the profit motive considered an incentive in a market system? The profit motive is the desire to make a profit, and profit is the reward for taking a risk and starting a business: in the market system, a business might re-invest (ie.

Detailed explanation-3: -Profit motive encourages people to improve their material well-being. In a free enterprise system, business owners and managers, not government officials, make decisions on how their business will be run. Maximizing profits is the driving force behind these decisions.

Detailed explanation-4: -In a market economy, the producer gets to decide what to produce, how much to produce, what to charge customers for those goods, and what to pay employees. These decisions in a free-market economy are influenced by the pressures of competition, supply, and demand.