One Characteristic That Has Allowed the U

question 37

Multiple Choice

One characteristic that has allowed the U.S.economy to change the mix of output in response to consumer demand is the

• A)Ease with which resources move from one industry to another.
• B)Abundance of scarce resources.
• C)Large number of proprietorships.
• D)Labor-intensive production process.

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Definitions:

Red-Circled

A term used to describe employees whose pay exceeds the maximum of their pay range, often due to changes in job structure or pay scale adjustment.

Pay Ranges

The scale of pay established for jobs of similar value or category within an organization, reflecting minimum and maximum pay rates.

Compensable Factors

Key job elements that are considered when determining the pay for a position, including skills, effort, responsibility, and working conditions.

Core Job Dimensions

Fundamental aspects of a job that affect an employee’s psychological states, influencing their motivation, satisfaction, and performance.