There Are at Least Two Perspectives to Consider When Determining

question 14

Multiple Choice

There are at least two perspectives to consider when determining how to pay individuals within an organization.The external perspective refers to

• A)what the marketplace is paying for people with similar job titles.
• B)how other similar companies decide what to pay their employees.
• C)what other individuals in the same company are paid.
• D)how money should be distributed among employees within a company.

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Definitions:

Differentiate

To establish a distinct, unique position in the marketplace by highlighting differences from competitors.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded for a given period.

Charging Different Prices

Practice of setting different prices for the same product or service in different markets or to different customers, often based on demand, purchase volume, or buyer characteristics.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price.