How Does the Distribution of Income Compare to the Distribution

question 14

Essay

How does the distribution of income compare to the distribution of wealth in the U.S.? What does this imply about the respective Lorenz curves?

Understand the focus of competency-based analysis and person-based job analysis.

Identify the role of different analyses (job, workflow, SWOT) in improving organizational processes.

Identify what constitutes job requirements, job descriptions, and job specifications.

Understand the legal implications of job performance criteria.

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Definitions:

Raw Materials

These are the base ingredients or components that companies use in the production of goods.

Materials Price Variance

The difference between the actual cost of materials used in production and the standard cost of those materials.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected, multiplied by the standard cost per unit of material.

Cash Account

A financial account that tracks the money that is readily available for a company or individual, including physical currency and balances in bank accounts.