Search results
Results From The WOW.Com Content Network
In general, incentives are anything that persuade a person [1] or organization [2] to alter their behavior to produce the desired outcome. The laws of economists and of behavior state that higher incentives amount to greater levels of effort and therefore higher levels of performance. [3]
In labor economics, an efficiency wage is a wage paid in excess of the market-clearing wage to increase the labor productivity of workers. [1] Specifically, it points to the incentive for managers to pay their employees more than the market-clearing wage to increase their productivity or to reduce the costs associated with employee turnover.
In economics, the law of increasing costs is a principle that states that to produce an increasing amount of a good a supplier must give up greater and greater amounts of another good. The best way to look at this is to review an example of an economy that only produces two things - cars and oranges.
Organisational structure, incentives, employee productivity, and information all influence the successful operation of a firm in the economy and within itself. [2] As such major economic theories such as transaction cost theory, managerial economics and behavioural theory of the firm will allow for an in-depth analysis on various firm and ...
The tax leads to the lower wages and lower employment. However some economists assumes, that supply curve for the labor is backward-bending. It means, that the quantity of labor increases if the wages increase and from given level of the wage it started to decrease. The shape of the curve follows an idea, that high wages is an incentive to work ...
Some economists and interest groups such as the Coalition for a Prosperous America, a national nonprofit organization representing domestic producers, say that the tariffs' inflationary impact ...
Regardless of the fact that an incentive spurs economic activity, many use the term to refer to any relative change in taxation that changes economic behavior. Such pseudo-incentives include tax holidays, tax deductions, or tax abatement. Such "tax incentives" are targeted at both individuals and corporations.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!