Which of the Following Is True of the Point Factor

question 75

Multiple Choice

Which of the following is true of the point factor method of job evaluation?

• A) In this method, descriptions of job classes are written and then each job is put into a grade according to the class it best matches.
• B) It is a complex quantitative method that combines the ranking and classification methods.
• C) It looks at compensable factors in a group of similar jobs and assigns weights to them.
• D) It is a simple system that places jobs in order, from highest to lowest, by their value to the organization.

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Definitions:

Monopolistically Competitive

A market structure characterized by many firms offering products that are similar but not perfect substitutes, leading to competitive yet differentiated markets.

Barriers to Entry

Economic, procedural, or regulatory obstacles that prevent new competitors from easily entering an industry or area of business.

Monopolistically Competitive

In a monopolistically competitive market, many firms sell products that are similar but not identical, allowing for some degree of market power and price setting.

Highly Concentrated

Refers to a situation or market in which a few entities or businesses hold a large majority of market share or influence.