Which of the Following Best Explains Why Individual-Based Incentive Plans

question 81

Multiple Choice

Which of the following best explains why individual-based incentive plans work?

• A) Equity theory
• B) Maslow's hierarchy
• C) Expectancy theory
• D) Achievement theory

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Definitions:

Efficiency

The optimal allocation and use of resources to achieve the best possible output or outcome with the least waste of time and effort.

Equilibrium

A state in a market where demand equals supply, resulting in a stable price for a good or service.

Market Equilibrium

The state where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable market price.

Economists

Experts focused on analyzing how goods and services are produced, distributed, and consumed.