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Wage Rate
Rephrased: Wage Rate is the compensation paid by employers to employees for their labor, often determined per hour worked or by piece-rate.
Incentive Scheme
An incentive scheme is a plan or system designed to motivate and encourage employees to perform better by offering rewards or benefits.
Feasible Production
A concept that refers to the various combinations of goods and services that a company can produce within a specified period under given conditions with the available resources.
Bonus Payment
Additional compensation given to employees on top of their regular salary, usually as a reward for achieving specific goals or for exceptional performance.
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