The _____ States That If High Performance Is Followed by Some

question 70

Short Answer

The _____ states that if high performance is followed by some reward, then it is more likely that the desired behavior will occur in the future.

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Definitions:

Economic Theory

A collection of theories and frameworks that describe the workings of economies and the interactions between economic participants.

Communications

The act or process of exchanging information and ideas through various mediums and platforms.

Transaction Costs

Expenses incurred when buying or selling goods and services, encompassing fees, taxes, and other costs.

Middlemen

People who buy and sell goods or services or arrange trades. A middleman reduces transaction costs.