Page 9 1.2. What are five foundations of economics? Adam prefers activities and goods in the following descending order: Hanging out with friends. Having milkshakes with his mom. Playing video games. Eating fried chicken. Adam’s mom has several chores she wants him to finish. Place the incentives in order, from most effective to least effective, that will encourage Adam to finish his chores.

For Adam to be encouraged to finish his chores from the most effective to the least effective, the following reasons is stated below

By asking Adam to first clean his room, before leaving with his friends

Making a promise to Adam, once he finishes his chores

Not permitting  Adam to play video games unless he completes his chores

Making a promise to Adam that he gets a fried chicken dinner if he put clothes on clothes hooks.

Explanation:

Solution

In order to encourage Adam to finish his chores from most to least effective, is stated below:

• Asking Adam to first clean his room, before going out with his friends

• Promise Adam a milkshake with you, if he completes his chores

• Not allowing Adam to play video games unless he completes his chores.

• Promise Adam that he gets a fried chicken dinner if he put clothes on clothes hooks

These incentives will make Adam finish his work effectively.

Cost of goods sold.