Which of the Following Is an External Factor That Can

question 111

Multiple Choice

Which of the following is an external factor that can influence the wage rate?

• A) the employer's ability to pay
• B) the cost of living
• C) the worth of the job
• D) the employee's relative worth

Understand the relationship between job design, employee satisfaction, and motivation.

Comprehend the role of needs theories (Maslow's hierarchy, ERG theory, McClelland's needs theory) in explaining motivation.

Identify the key components of the expectancy theory and how it predicts employee motivation.

Understand the distinction between hygiene factors and motivators as per Herzberg's two-factor theory.

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Definitions:

Fixed Costs

Outlays that do not fluctuate with production or sales figures, such as office rent, salary payments, and insurance policies.

Return On Investment (ROI)

A performance measure used to evaluate the efficiency or profitability of an investment, calculated by dividing the net profit from the investment by its original cost.

Residual Income

The income that remains after subtracting all required expenses, including a minimum target return, from operating income.

Producing Departments

Sections within a manufacturing facility where raw materials are processed or assembled into finished products.