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The Compensating Section of the Practitioner's Model of Human Resource

question 44

True/False

The compensating section of the practitioner's model of human resource management describes base pay,incentives,and worker benefits as ways to reward and maintain a workforce.


Definitions:

Socially Efficient

An economic condition where the allocation of resources maximizes social welfare, often where marginal cost meets marginal benefit.

Negative Externalities

Costs that are suffered by a third party as a result of an economic transaction or activity, for which they are not compensated.

Tobacco Industry

The sector of the economy involved in the manufacture, marketing, and sale of tobacco and related products.

Corrective Tax

A tax designed to encourage or discourage certain behaviors to correct for the effects of externalities.

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