In Order for a Piece Rate to Result in High-Quality

question 192

Multiple Choice

In order for a piece rate to result in high-quality output by workers, it requires:

• A) no environmental risk.
• B) the piece rate to be lower than the hourly wage.
• C) good quality control.
• D) workers to have equal abilities.

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Definitions:

Micromarketing

A marketing strategy focused on a small group of highly targeted customers, tailoring products and marketing messages to their specific needs and preferences.

Population Increases

refers to the rise in the number of people in a particular area, affecting various aspects of society including demands for goods and services.

Fixed Costs

Those costs that remain essentially at the same level, regardless of any changes in the volume of production.

Variable Cost

Expenses that change in proportion to the activity of a business, such as costs for raw materials or production.