This Type of Pay System Is Used by Unions and Contractors

question 32

Multiple Choice

This type of pay system is used by unions and contractors to reward their carpenters for increasing their carpentry abilities.

• A) knowledge-based
• B) incentive
• C) skill-based
• D) merit-based

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Definitions:

GATT

Stands for the General Agreement on Tariffs and Trade, which was a multilateral agreement aiming to reduce tariffs and other trade barriers internationally until it was replaced by the WTO.

Worldwide Tariffs

Taxes imposed by countries on imported goods in order to protect domestic industries or to generate revenue.

Rounds

Repeated sequences or stages of activity, often used in the context of funding phases for startups.

Joint Ventures

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task.