When Using a Piece Rate System

question 193

Multiple Choice

When using a piece rate system:

• A) it is important to measure and observe worker quality.
• B) a firm may attract more unproductive workers.
• C) a firm will experience a decrease in output.
• D) All of the answers are correct.

Understand the concept of personality as a characteristic pattern of thinking, feeling, and acting.

Evaluate the relevance of Freudian concepts in contemporary psychology.

Understand the structural model of the psyche according to Freud, including the roles of the id, ego, and superego.

Describe Freudian defense mechanisms and their role in personality.

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Definitions:

Financial Basis

The underlying value or cost used for tax purposes, to calculate capital gain or loss upon the sale of an asset, including adjustments for improvements, depreciation, and costs of sale.

Pay Back

The process of returning or repaying borrowed funds, especially the principle amount of a loan.

Accounting Break-Even

The point at which total costs and total revenues are exactly equal, resulting in neither profit nor loss.

Net Income

The net income of a company once all costs and taxes are subtracted from its revenues.