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Define Equity Theory

question 11

Essay

Define equity theory. Identify the five ways in which people try to restore equity when they perceive that they have been treated unfairly. Describe a circumstance in which you or someone you know experienced inequity in a work situation,and explain the actions you (or that person)took to restore equity.


Definitions:

Efficiency Wage

Efficiency wage is a theory suggesting employers pay a wage higher than the market equilibrium to increase worker productivity and loyalty.

Efficiency Wage

A theory suggesting that higher wages can lead to increased productivity by attracting better workers and reducing turnover.

Virtual Office

A work arrangement where employees can work from anywhere using technology, without needing a physical presence in a traditional office environment.

Level of Employment

The level of employment refers to the total number of employed individuals within an economy at a given time, reflecting the job market's health and economic activity.

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