A ________ Pay System Involves Setting Pay Rates Based on a Comparison

question 102

Multiple Choice

A ________ pay system involves setting pay rates based on a comparison between internal pay and external pay.

• A) ranking
• B) salary survey
• C) market-competitive
• D) compensable factor

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Definitions:

Competition

Competition in economics refers to the rivalry among sellers trying to achieve goals such as increasing profits, market share, and sales volume by varying the elements of the marketing mix.

African-American Workers

Refers to individuals of African descent in the United States who are part of the labor force, often highlighting their unique historical and socio-economic experiences.

Discrimination Coefficients

Metrics used in econometrics and statistical analyses to measure the extent of discrimination or bias present in a model or decision-making process.

Wage Rate

The amount of money paid to an employee per unit of time, such as an hour or week, for their work services.