It Would Be Undesirable to Reduce the Executive's Compensation If

question 155

Multiple Choice

It would be undesirable to reduce the executive's compensation if her earnings are due largely to:

• A) a flat fee.
• B) performance.
• C) the owner's demand.
• D) the employee's demand.

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Definitions:

Supply And Demand

The fundamental economic model that explains the interaction between the quantity of a good or service that producers wish to sell and the quantity that consumers wish to buy.

Standardized Product

A product that is uniform in quality and characteristics, produced in large volumes, and by many different firms.

Determinant

A mathematical concept referring to a scalar value that can be calculated from the elements of a square matrix, often used to solve systems of linear equations.

Shortage

A situation where the demand for a product or service exceeds the available supply at a particular price.