Merit Is the Quality of an Employee's Job Performance; Ability

question 100

True/False

Merit is the quality of an employee's job performance; ability is the employee's potential to perform the higher-level tasks.

---

Definitions:

Labor Costs

The total expenses incurred by employing labor, including wages, salaries, and benefits.

Raw Materials

The basic material from which a product is made, often used in manufacturing and production processes.

Fixed Costs

Fixed costs are business expenses that remain constant regardless of the level of production or sales.

Variable Costs

Costs that vary directly with the level of production or output.