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mojhsa [17]
3 years ago
9

At Ultrinsic.com, students pay a small entry fee to compete in grades-based contests for cash prizes. Suppose that 15 students f

rom your economics class each pay $70 to enter a grades-based contest. This would create a $1050 prize pool. An equal share of the $1050 pot is awarded at the end of the term to each contestant who earns an A in the course. If four students earn A’s, each receives $262. If only one student earns an A, that person gets the entire $1050 pot. What economic concept does Ultrinsic.com use to encourage participants to learn more and get better grades? A. incentives B. trade creates value C. trade-offs D. opportunity costs E. marginal thinking
Business
1 answer:
vekshin13 years ago
8 0

Answer:

A. incentives

Explanation:

An incentive is a motivator to do something. Traditionally incentive is extrinsic, that is there is a reward given when an achievement is made. This is the rational for bonuses on the job. Where an employee is compensated for achieving a milestone at work.

Ultrinsic.com is using incentive of a cash reward for those that get As as a motivator for the students. Students pay an entry fee of $70 and if one student gets an A he will get the whole pool of funds. If more than one person gets an A they will share the money in the pool.

More students will be motivated to get As.

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