Compensation Is One of the Main Tools a Firm Uses

question 265

True/False

Compensation is one of the main tools a firm uses in its efforts to attract qualified employees.

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Definitions:

Internality

A personality trait that involves attributing success and failure to one's own efforts and abilities.

Externality

A term in economics that describes a cost or benefit that affects a party who did not choose to incur that cost or benefit.

Internality-Externality

A psychological dimension that distinguishes between individuals who attribute outcomes to their own control (internality) and those who attribute them to external forces (externality).

Locus of Control

Locus of control is a psychological concept that refers to individuals' belief about the extent to which the outcomes of their actions are under their own control (internal locus) or influenced by external factors (external locus).