The Law of Increasing Additional Cost Is Due to

question 126

Multiple Choice

The law of increasing additional cost is due to

• A)scarcity.
• B)inefficient use of technology.
• C)the fact that resources are not perfectly adaptable for alternative uses.
• D)the fact that there are always alternatives and it is costly to figure out which alternative is best.

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Definitions:

Compensation Survey

A tool used to gather and analyze information about compensation levels and practices within an industry or among competitors.

Identifying Jobs

The process of defining and categorizing positions within an organization, including detailing job responsibilities, requirements, and qualifications.

Identifying Employees

The process of recognizing and understanding the unique attributes, skills, and needs of each individual within an organization to better manage and support them.

Compa-ratio

A metric used to evaluate an employee's pay relative to the midpoint of their pay range, indicating how compensation compares to market or organizational standards.