Examlex

Solved

Resources Include Labor, Natural Resources, Physical Capital, Human Capital, And

question 76

Multiple Choice

Resources include labor, natural resources, physical capital, human capital, and:


Definitions:

Wage Rates

The standardized amount of pay that is given to employees per unit of time worked, often expressed hourly, daily, or annually.

Internal Equity

The principle of ensuring fairness in pay structures within an organization, where employees holding similar positions or responsibilities are compensated in a similar manner.

Job Ranking

A form of job evaluation in which jobs are ranked subjectively according to their overall worth to the organization.

Job Grading

A form of job evaluation that assigns jobs to predetermined job classifications according to their relative worth to the organization.

Related Questions