ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Salary is the basic incentive for every employee to work efficiently for an organization. Salary includes basic pay, dearness allowance, house rent allowance, and similar other allowances.

Detailed explanation-2: -Salary – It is the basic Financial Incentive for any employee to work diligently for the organisation. It includes components like basic pay, house rent allowance, dearness allowance and other such benefits.

Detailed explanation-3: -The purpose of monetary incentives is to reward associates for excellent job performance through money. Monetary incentives include profit sharing, project bonuses, stock options and warrants, scheduled bonuses (e.g., Christmas and performance-linked), and additional paid vacation time.

Detailed explanation-4: -A monetary reward is a specific amount of money given to an employee to complete a task or goal. These rewards can come in the form of bonuses, commissions, or incentives and can be based on performance, merit, or seniority. ‍

Detailed explanation-5: -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