ECONOMICS
INCENTIVES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sale
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Discount
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Reward
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Fine
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Penalty
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Detailed explanation-1: -Positive incentives can include praise, bonuses, career advancements, earning extra vacation days, gift certificates and other monetary rewards.
Detailed explanation-2: -The definition of an incentive is: a thing that motivates or encourages one to do something. Put in simple terms, a reward is something which is actually given to an employee, whereas an incentive is a motivating factor. For example, if you give one of your employees a gift for their hard work, that is a reward.
Detailed explanation-3: -Compensation incentives. Compensation incentives tend to cover some of the more basic incentive options. Recognition incentives. Reward Incentives. Appreciation incentives.
Detailed explanation-4: -Economic Incentives – Material gain/loss (doing what’s best for us) Social Incentives – Reputation gain/loss (being seen to do the right thing) Moral Incentives – Conscience gain/loss (doing/not doing the ‘right’ thing) 15-Jun-2014