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SIZIF [17.4K]
3 years ago
15

Which of the following best explains why the profit motive often leads to efficiency and innovation

History
1 answer:
natima [27]3 years ago
5 0
The desire to make a profit motivates individuals and businesses to work efficiently. For example, if a business can find a new way to make a valuable good, like a phone, this will drive down the cost of production. Driving down the cost of production allows the company to make more off the product when selling it to the public. Along with this, lowering the cost of production allows business to decrease the price of goods, making the it more likely that consumers will buy it.
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