Even Though Firms and Workers Can Both Benefit from Piece

question 9

Multiple Choice

Even though firms and workers can both benefit from piece rates, piece rates are sometimes not implemented because of:

• A) government regulation.
• B) a shortage of workers.
• C) fear of a decrease in the piece rate.
• D) All of the answers are correct.

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Definitions:

Committed

Showing a dedication or allegiance to a cause, activity, or job; fully engaged or loyal.

Competent Individuals

People who possess the required skills, knowledge, and ability to perform a specific task or job successfully.

Closed Group

A restricted group where membership is fixed from the beginning to the end of a group's lifespan, not allowing new members to join midway.

Efforts Rejected

The experience of having one's endeavors or contributions dismissed or not acknowledged by others.