Final answer:
A fifty percent off sale at a local clothing store is best described by the term 'incentive' in an economic context, as it influences consumer behavior to increase sales.
Step-by-step explanation:
When a local clothing store offers customers fifty percent off the price of all inventory items, the economic term that best describes this example is an incentive. This type of promotion is used by businesses to attract customers and increase sales by offering a cost advantage, making the purchase more attractive. In economics, incentives are factors that motivate and influence the behavior of consumers and producers. By offering a discount, the store provides an incentive for customers to purchase more than they might have without the discount.