Which of the following statements about positive incentives is the most accurate? They create additional taxes on behaviours. They increase benefits and increase costs They increase benefits or reduce costs. They decrease benefits or increase costs.
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- Could you please write your own words, not copy-paste or plagiarism issues Question: Discuss the differences between social and market norms(behavioral economics) and what happens when these norms collide. How can an understanding of these two norms help businesses?Explain how people respond to incentives and how markets turn self-interested behavior to the benefit of consumers.Which of the following is an example of an incentive? A. Purchases from a store earn the buyer rewards such as discounts on future purchases. B. Heavy taxes on unhealthy foods. C. Government campaign to get people to exercise D. Selling someone a product that you made.
- What type of economists believe that markets naturally self-correct, and will reward good strategies and punish bad ones?Read the following passage that describes why some consumers clip coupons while others don't. Then answer the question that follows. THE ECONOMIC RATIONALE BEHIND COUPON CLIPPING, BY THE APLIA ECONOMICS CONTENT TEAM If coupon clipping is so rewarding, why doesn't everyone do it? According to basic economic theory, the number one reason is that coupon clipping isn't actually free. Sure, it doesn't explicitly cost you money out of your pocket, but it does cost you time to scan newspapers, magazines, and the Internet for savings that sometimes seem insignificant. Economists refer to this as the opportunity cost of clipping coupons. For example, an hour spent clipping coupons means an hour less to spend earning income, enjoying leisure time, or sleeping. For those who have fewer high-value alternatives competing for their time, such as stay-at-home parents or retired senior citizens, coupon clipping may be time well spent. According to the Wall Street Journal (Source: "Doing the Math on…concepts of Market actions and its implications.
- What are the likely consequences of not intervening?Which of the following is an incentive to buy more of a good or service for nearly everyone? a. The product is illegal. b. A consumer has a limited budget. c. The product has a lower price. d. Regulations make it more difficult to produce. e. The time required to consume it increases.What is the purpose of cost–benefit analysis?