Competency-Based Pay Plans Are Different from Skill-Based Plans in That

question 30

Multiple Choice

Competency-based pay plans are different from skill-based plans in that:

• A)competency-based plans are a type of job-based pay structures
• B)competency-based plans are applied only to blue-collar jobs
• C)competency-based plans eliminate the need to control costs
• D)competency-based plans do not allow for lateral movement
• E)competency-based plans are not very specific; they are more general, paying for broadly applicable knowledge, skills and behaviour

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Definitions:

Toll Road

A toll road is a public or private roadway for which a fee is assessed for passage. It generates revenue used for road construction, maintenance, or other transportation expenses.

Clean Air

Refers to the state of the atmosphere when it is free from pollutants and contaminants, enhancing environmental health and quality of life.

Too Little Consumption

A situation where individuals or the economy as a whole are consuming less than optimal, possibly leading to underutilization of resources and a decrease in economic wellbeing.

Nonexcludable

A characteristic of public goods where it is not feasible to exclude individuals from using the good, leading to potential free-rider problems.