Some Major Elements Of Economics Described By Professional Economics Assignment Helpers
                     SOME MAJOR ELEMENTS OF 
ECONOMICS DESCRIBED BY 
PROFESSIONAL ECONOMICS 
ASSIGNMENT HELPERS
WHAT IS OPPORTUNITY COST?
Sometimes while choosing one alternative and leaving the 
other individual, business and investors skip other benefits 
and that benefit is represented by the opportunity cost. The 
opportunity cost is not reflected in financial reports of the 
firm but the owners of the business can use it to take correct 
decisions when they have numerous options.
WHAT ARE THE INCENTIVES?
Incentive means anything that motivates employees and grabs 
their attention to work effectively and gives their best. The prime 
aim of incentives is to improve the whole performance of a 
business. It can be classified into direct and indirect compensation.
WHAT IS MEANT BY PROPERTY RIGHTS?
Property rights show legal and theoretical ownership of resources and 
their use. These resources can be tangible as well as intangible and it 
can be owned by governments, businesses, and individuals. In many 
countries, individuals hold private property rights or the right to private 
persons to hold, delegate, accumulate, sell or rent the property.
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