Discuss Some of the Potential Problems of Wage Incentive Plans

question 188

Essay

Discuss some of the potential problems of wage incentive plans.

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Definitions:

Generalized Reciprocity

A form of exchange that involves giving goods or services with the expectation that their value will be reciprocated at an unspecified future time.

Negative Reciprocity

A mode of exchange in which the aim is to get something for as little as possible. Neither fair nor balanced, it may involve hard bargaining, manipulation, outright cheating, or theft.

Redistribution

A mode of exchange in which goods flow into a central place, where they are sorted, counted, and reallocated.

No Money

A condition or concept where monetary exchange is absent, and goods or services are often traded directly or provided without a need for currency.