Understanding Incentives and Exchanges

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What is an incentive?

Back

A reward or motivation to do something.

Front

Which of the following is an example of a trade? Buying a toy with your allowance, Watching TV, Sleeping, Reading a book

Back

Buying a toy with your allowance

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What are benefits?

Back

Positive outcomes or advantages

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What is an exchange?

Back

A trade of goods or services

Front

Which scenario is an example of an incentive? Options: Getting extra playtime for finishing homework, Losing a toy for not cleaning your room, Trading a sandwich for a cookie, Paying for a movie ticket

Back

Getting extra playtime for finishing homework

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Which scenario is an example of a trade? Options: Swapping a book for a comic with a friend, Receiving a gift for your birthday, Saving money in a piggy bank, Watching a movie at home

Back

Swapping a book for a comic with a friend

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Which scenario is an example of a benefit? Learning new skills from a hobby, Spending money on a toy, Losing time while waiting in line, Breaking a toy

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Learning new skills from a hobby

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Which scenario is an example of an exchange? Options: Trading a video game for a book, Receiving a compliment, Gaining a new friend, Losing a game

Back

Trading a video game for a book

Front

What is the main purpose of an incentive?

Back

To motivate or encourage behavior

Front

What is the main purpose of a trade?

Back

To exchange goods or services