The consequences of an action influence the frequency with which that action is displayed in the future. What does this describe?

This is law of effect.

Explanation:

The "law of effect" is a principle developed by "Edward Thorndike". It is the principle on behavioral conditioning, which means that if a response has a pleasing effect are likely to occur again. And if a reaction doesn't produce satisfying effect would have less frequency in future. For example, if an employee is praised by the boss for starting his work early, it is likely that the employee's behavior will repeat in future.

Thus, the given statement is law of effect.