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Two Methods of Job Evaluation Are Ranking/paired Comparison and Classification/grading

question 24

True/False

Two methods of job evaluation are ranking/paired comparison and classification/grading.


Definitions:

Shortage

An instance where the desire for a good or service outstrips its availability at a given price.

Price Floor

A government or regulatory imposed minimum price set above the equilibrium price, preventing market prices from falling below a certain level.

Price Ceiling

A legally established maximum price that can be charged for a good or service, usually set by the government.

Shortage

An instance where there is more demand for a product or service than what is available in the market.

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