Job Status-Based Rewards

question 17

Multiple Choice

Job status-based rewards:

• A) try to ensure that employees believe their pay is equitable compared to other people in the organization.
• B) motivate employees to compete for positions further up the organization.
• C) tend to encourage bureaucratic hierarchy.
• D) All of the answers are correct.
• E) motivate employees to compete for positions further up the organization and tend to encourage bureaucratic hierarchy.

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Definitions:

Unit Elastic

A situation in which the percentage change in quantity demanded is equal to the percentage change in price.

Inelastic

Describes a situation where the demand for or supply of a good or service is relatively unresponsive to changes in price.

Elasticity of Supply

A measure of how much the quantity supplied of a good changes in response to a change in its price.

Productive Capacity

The maximum output a company or economy can produce with its current resources and technology, without causing inflation.