The Possibility of the Endless Cyclical Preference Is Eliminated by the Property

question 17

Multiple Choice

The possibility of the endless cyclical preference is eliminated by the property of:

• A) completeness.
• B) more and better.
• C) diminishing marginal rate of substitution.
• D) transitivity.

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Definitions:

Performance

The act of carrying out a task or the level of efficiency and effectiveness with which this task is completed.

Piece-rate Pay

A compensation system where workers are paid based on the quantity of items produced or tasks completed.

Merit Pay

A compensation strategy that rewards employees based on their performance or achievements, often measured through evaluations or achievement of set goals.

Bonus Pay

Additional compensation given to employees as a reward for achieving specific performance targets or for exceptional work.