External Equity Pay Comparisons Focus on What

question 7

Multiple Choice

External equity pay comparisons focus on what:

• A)other employees within the same organization in the same job are paid.
• B)other employees within the same organization but in a different job are paid.
• C)employees in other organizations are paid for doing the same general job.
• D)employees in other organizations are paid for doing other jobs with higher responsibility.
• E)employees in other organizations are paid for doing other jobs with lower responsibility.

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Definitions:

Quality and Design

Aspects of products or services that dictate their overall appeal, functionality, and satisfaction to the consumer.

Collusively

Collusively involves cooperating in a secretive or illegal manner, often used to describe businesses that agree to fix prices or divide markets amongst themselves.

Degrees of Competition

The spectrum of market structures that varies from one extreme of perfect competition to the other of monopoly, including monopolistic competition and oligopoly in between.

Oligopoly

A market structure dominated by a small number of large companies, leading to limited competition.