An Incentive Is

question 209

Multiple Choice

An incentive is

• A) an inducement to take a particular action.
• B) the marginal cost of some course of action.
• C) the marginal benefit of some course of action.
• D) the net gain of some course of action.
• E) a constraint that society imposes on those who make self-interested choices.

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Definitions:

Bailments

A legal relationship in which physical possession of personal property is transferred from one person to another under agreement.

Contract

A binding accord between two or more parties that is legally recognized and includes mutual commitments.

Mislaid Property

Property that the owner has voluntarily parted with and then has inadvertently forgotten.

Title

The legal right to own, use, or dispose of property, or the formal evidence of such a right, such as a deed or certificate.