The School of Economic Thought That Emphasized the Importance of Incentives

question 122

Short Answer

The school of economic thought that emphasized the importance of incentives to encourage savings,investment,and productivity is known as ________ economics.

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Definitions:

Industry

Industry refers to the collection of businesses and activities involved in the production, manufacturing, or provision of services within a specific sector.

Cost Curves

Graphical representations that show how the cost of producing goods changes with variations in output levels.

Revenue Curves

Graphs that show how revenue changes as the quantity sold of a product or service changes.

Profit-Maximizing

A strategy focused on increasing a firm's earnings to its highest possible level.