Long-Lasting Resources Used to Expand the Production of Goods and Services

question 32

Multiple Choice

Long-lasting resources used to expand the production of goods and services in the future are called

• A) consumables.
• B) capital goods.
• C) consumer durables.
• D) inventories.

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Definitions:

Skill-Based Pay

A compensation system where employees are paid based on the skills, knowledge, and abilities they possess rather than their job title or position.

Performance-Based Pay

A compensation system where an employee's pay is directly linked to their performance or achievements, incentivizing efficiency and productivity.

Job Content-Based Pay

A compensation strategy where wages are determined by the nature, complexity, and responsibility level of the work performed, rather than by the individual characteristics of the employee.

Extrinsic Rewards

Benefits given to an individual, such as pay, bonuses, or other incentives, which come from an external source rather than the satisfaction from the task itself.