________ Refers to All Forms of Pay or Rewards Going

question 45

Multiple Choice

________ refers to all forms of pay or rewards going to employees and arising from their employment.

• A) Employee reimbursement
• B) Employee compensation
• C) Salary
• D) Benefits

---

Definitions:

Short Run

A time period in which at least one factor of production is fixed, focusing on immediate effects.

Long Run

A period of time in economics where all factors of production and costs are variable, allowing full industry adjustment.

Economic Profit

The profit a company makes after subtracting both its explicit and implicit costs, including opportunity costs, from its total revenues.

Innovation

The introduction of new ideas, products, or methods, aiming at improving efficiency, value, or creating something novel.