When Resolving Conflicts Between External and Internal Equity, There Is

question 82

True/False

When resolving conflicts between external and internal equity, there is a growing sentiment that external comparisons deserve greater weight because organizations are finding it increasingly difficult to ignore market competitive pressures.

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Definitions:

Marketplace

A physical or virtual space where buyers and sellers converge to trade goods, services, or information.

Market Equilibrium

A situation where the quantity of a good or service supplied equals the quantity demanded, leading to a stable market price.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing their net benefit.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to market balance.