Since Intermediaries Usually Increase Costs for Producers and Lower Value

question 41

True/False

Since intermediaries usually increase costs for producers and lower value for consumers,a decentralized system of exchange is more efficient than a centralized network.

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Definitions:

Standard Hour Plan

An incentive plan that pays workers extra for work done in less than a preset "standard time."

Merit Pay

A pay system where employees are compensated based on their performance, as determined through evaluations, with the aim of rewarding high performance.

Individual Performance

The measure of the level to which an employee accomplishes work tasks effectively and efficiently, contributing to the organization's objectives.

Differential Piecework Rate

A compensation system where employees are paid based on the amount of work they produce, but the rate of pay increases after a certain quantity of work is completed.