10 Principles of Economics
10 Principles of Economics
10 Principles of Economics
For example, by offering a raise in the salary of whosoever works harder can induce people to work hard
which is a positive incentive. Whereas putting a tax on a good, say fuel, can induce people to consume it
less which is a negative incentive.
How People Interact With Each Other
Many countries that once had centrally planned economies have abandoned this system and are trying to
develop market economies.
Markets are where the buyers and sellers can meet to get goods and exchange items.
There are two broad reasons for the government to interfere with the economy: the promotion of efficiency
and equality.
See Also
Economics Subject classification: this is an
Wikipedia: Economics economics resource.
Wikibooks: Subject:Economics
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