Economic Incentives Essay - 617 Words

Discussion Board Forum 1 Topic: Economic incentives Then discuss your topic in an original thread by 11:59 p.m. (ET) on Friday, and reply to at least 2 classmates threads by 11:59 p.m. (ET) on Monday. Be sure to include the following: * In the first paragraph, discuss the relevant economic theory of your topic (your textbook is a good source for this paragraph). * In the second, you must include outside research to corroborate your thread (from the Liberty University Online Library or elsewhere). * In the third, cite and discuss a real-world example of your topic. * In the fourth, integrate biblical insights into your Discussion Board posts. Economic incentives are used to influence a person. The postulate†¦show more content†¦Incentives are seen everywhere in daily life and they appear in a variety of ways. Whether a person is making a choice between what to eat for lunch or when to go to bed, they are being influence by incentives. For example, images of an appealing lunch meal in a TV commercial may make someone choose Subway over Mcdonalds. However, the same thought process can motivate someone to prefer a meal at McDonalds because of the company’s constant promotion of their â€Å"dollar menu† (Mcdonalds, 2013). Either of these incentives can appeal to a person, depending on what they are motivated by, in this case, either health or money. The Bible is full of different forms of incentives. Some people can skim the Bible and note its major incentive; the opportunity for eternal life. However a deeper knowledge of what God says shows many more incentives. Other incentives are exemplified in the Bible: believers have faith which gives them peace (Romans 5:1), faith leads to loving the Creator and experiencing His love (Psalms 85:10), and the knowledge of right and wrong gives an opportunity for forgiveness (Acts 2:38). All of these reasons for believing the Bible, along with many more, can motivate a person to choose that specific approach to life. In its essence, an incentive is a deliberate proposal calculated to make a person choose a certain action. Thus, the reason why incentives are so popular in society is because everything andShow MoreRelatedEconomic Incentives : Effect Of Social Disapproval1244 Words   |  5 Pagescitet{carpenter2006mutual} following similar work by citet{gachter2000cooperation}, provide empirical evidence that economic incentives can reinforce the effect of social disapproval. Both the mentioned papers consider groups of people ranging from five to ten. Each group plays ten rounds, and are then moved to a different group after each round in the `strangers treatment. There are three stages to each round, firstly they must contribute, secondly the contributions are made public and finallyRead MoreRelationship Between Culture And Economic Incentives933 Words   |  4 Pagesand economic incentives, not a set primacy of one over the other. Change should ideally be explained by a synthesis in which bo th culture and economic incentives are taken into account. It is not only about stating that there is a relationship but also about analysing how that relationship works in terms of mechanisms. section{Synthesis in an Ontologically Divided Field?} In this section, I will develop the scope for synthesis regarding culture and economic incentives in a political economic analysisRead MoreEssay about Local Economic Development Incentives in the US1460 Words   |  6 PagesLocal Economic Development Incentives in the US 1. Description of the Issue Local economic development incentives constitute essential aspects of urban development economic policies. 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