In Order to Perform Her Job, Yvonne Needs to Have

question 33

Multiple Choice

In order to perform her job, Yvonne needs to have good communication skills.She should have a Bachelor of Business or equivalent degree and should be able to lead and manage projects.When evaluating her job the relative importance of each factor was assessed in comparison to the importance of these factors to performing other jobs.This is an example of:

• A) qualitative job evaluation
• B) quantitative job evaluation
• C) the point system
• D) the factor comparison system

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Definitions:

MRP Schedule

A chart or table that shows the marginal revenue product of labor, detailing how changes in the quantity of labor employed will impact total revenue generated.

Economic Rent

A payment to an owner or factor of production in excess of the costs needed to bring that factor into production.

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production.

Wages

Payments made to employees for their labor, typically calculated on an hourly, daily, or piecework basis.