ECONOMICS
INCENTIVES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a desired behavior
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a punishment
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a mind game.
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a failure.
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Detailed explanation-1: -Positive incentives: Provide positive assurance that an employee will receive something they desire in exchange for doing their work well. Examples of positive incentives include recognition, promotions, raises and so forth. Negative incentives: Correct mistakes or discourage certain behaviors.
Detailed explanation-2: -Reward is an incentive plan to reinforce the desirable behavior of workers or employers and in return for their service to the organization.
Detailed explanation-3: -Monetary incentives have two kinds of effects: the standard direct price effect, which makes the incentivized behavior more attractive, and an indirect psychological effect. In some cases, the psychological effect works in an opposite direction to the price effect and can crowd out the incentivized behavior.
Detailed explanation-4: -Bonuses. One of the most popular incentives, business owners often use performance bonuses to increase production by either individual employees or teams. Prizes and Awards. Non-Cash Prizes. How Justworks Can Help. 10-Apr-2017