Answer to Question #136197 in Management for Khuli

Question #136197
Explain any 5 economic-inclined and motivations remuneration theories.
Expert's answer

The hierarchy of needs is a motivational theory in psychology comprising a five-tier form of the human. Maslow’s Hierarchy of Needs demonstrates that one needs be in good health, safe, and strong with meaningful relations and trust before you can be the most that you can be. The Hawthorne Effect studies suggest that employees will work harder if they know they're being observed while hovering over your employees watching them all day, you could try providing regular feedback, letting your team know that you know what they're up to and how they're doing. Expectancy theory suggests that people will decide how to behave depending on the results they require as a result of their behavior. In other words, we decide something to do based on what we expect the result to be. At work, it might be that we work longer hours because we demand a pay rise. Attribution Theory explains how we attach importance to our own, and other people's, behavior. There are some theories about attribution. Some of the economic inclined theories include the theory of demand when the price is high there is a small demand for goods and services whereas when the price of goods and services is high there will be low demand for goods and services. while the theory of supply when the price of goods and services is low there will be little supply of goods and services into the market; when the prices of goods and services are high there will be more supply of goods and services.  refers to the system price mechanism where the forces of demand and supply determine the prices of commodities and the changes therein. It is the buyers and sellers who determine the price of a commodity.

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