____________________ Links Desired Behaviors or Outcomes to Financial Rewards or Penalties

question 16

Short Answer

____________________ links desired behaviors or outcomes to financial rewards or penalties.

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Definitions:

Competing

The action of participating in a market with others striving for the same objective, often business or market share.

Enforceable

A term applied to contracts or agreements that are legally binding and can be upheld in court.

Freedom Of Contract

The principle that individuals have the liberty to enter into contracts of their choosing without undue government restriction.

Courts

Institutions vested with the power to adjudicate legal disputes between parties and carry out the administration of justice in civil, criminal, and administrative matters.