Economists Call a Compensation Scheme in Which Pay Is Based

question 191

Multiple Choice

Economists call a compensation scheme in which pay is based on relative performance a:

• A) profit sharing plan.
• B) bonus plan.
• C) salary.
• D) tournament.

---

Definitions:

Learning Culture

A culture that supports an ongoing, voluntary, and self-motivated pursuit of knowledge to enhance personal and organizational development.

Experimentation

The act of conducting tests or trials to explore hypotheses or understand the effects of variables in a controlled setting.

Continuous Learning

The ongoing pursuit of knowledge to improve skills and competencies, both personally and professionally.

Improvements

Enhancements or upgrades in processes, products, or services that increase efficiency, effectiveness, or satisfaction.