Which of the Following Statements Is True Regarding Alternative Compensation

question 38

Multiple Choice

Which of the following statements is true regarding alternative compensation schemes?

• A)Alternative compensation schemes are always funded by the general body of taxpayers.
• B)Alternative compensation schemes are administered by private charities.
• C)Alternative compensation schemes are always better than the tort system of recovery of damages from the perspective of the victim.
• D)Alternative compensation schemes are generally premised on the basis of compensation regardless of fault.
• E)Alternative compensation schemes never have any sort of limit on the amount of recovery an injured party may obtain and the schemes are administered by trials in court.

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Definitions:

Employment

The condition of having a paid job or occupation, involving a contract between an employer and an employee that provides compensation for work performed.

Marginal Product

The additional output that is produced by adding one more unit of a variable resource, such as labor or capital, to the production process.

Average Product

The output produced per unit of a factor of production, calculated by dividing total product by the quantity of the input.

Textile Firm

A textile firm is a company that specializes in the production and distribution of fabrics and fabric-based products.