A(n) ________ in the economic world is something that leads people to channel their production and consumption efforts in a specific direction.

Question

Quizplus · Accepted Answer

An economic incentive is a factor or reward that motivates individuals or organizations to behave in a certain way or make certain choices. It is a key driver of economic activity, as it encourages people to channel their production and consumption efforts in a specific direction. Examples of economic incentives include profits, taxes, subsidies, and prices. Moral obligations, ethical motives, and property rights may also influence economic behavior, but they are not necessarily the primary drivers of economic activity.

A(n) ________ in the Economic World Is Something That Leads