What Are the Five Most Commonly Used Compensable Factors in a Factor

question 92

Multiple Choice

What are the five most commonly used compensable factors in a factor comparison system?

• A)experience;mental effort;physical effort;accountability;working conditions
• B)skill;mental effort;physical effort;responsibility;working conditions
• C)experience;physical effort;accountability;responsibility;working conditions
• D)skill;physical effort;accountability,responsibility;working conditions

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Definitions:

High-End

Products or services that are considered to be of the highest quality and price within their category.

Efficiency-Wage Theories

Economic theories that suggest higher wages can increase worker productivity and efficiency, thereby justifying above-equilibrium wage rates.

Equilibrium Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded, resulting in a stable employment situation without surpluses or shortages.

Efficiency Wage

is the concept that paying workers a higher wage than the market equilibrium can lead to higher productivity and efficiency, incentivizing better performance and loyalty.