Which of the Following Involves Setting a Production Standard for a Specific

question 24

Multiple Choice

Which of the following involves setting a production standard for a specific work group and then paying incentives to the group members if they exceed the standard?

• A) team incentive plan
• B) group profit-sharing plan
• C) employee stock ownership plan
• D) organization-wide incentive plan

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Definitions:

Standard of Living

The amount of riches, ease, physical items, and basic requirements possessed by a distinct class or region.

Productivity

The measurement of the efficiency of production, often evaluated as the ratio of output to inputs in the production process.

Human Capital

The economic value of a worker's experience and skills, including education, training, intelligence, skills, health, and other things employers value.

Technological Knowledge

Information and skills acquired through experience or education regarding the use, development, and application of technological tools and systems.