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question 12

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Definitions:

BA

An abbreviation commonly used for Bachelor of Arts, a type of undergraduate degree awarded in arts and sciences.

Market-Based Pay

A compensation approach where pay levels are determined by comparing the market rates for similar positions in the relevant labor market.

Skill-Based Pay

A compensation system where employees are paid based on their skills or knowledge levels, rather than their job title or position.

Hays Guide Chart System

A method used in job evaluation to rank jobs based on a variety of factors, such as knowledge, responsibilities, and working conditions.