The Extra Wage That Is Paid to an Individual to Attract

question 3

Multiple Choice

The extra wage that is paid to an individual to attract her to a less desirable job is called:

• A) the benchmark competitive wage.
• B) the general training human capital difference.
• C) the specific training human capital difference.
• D) a compensating differential.

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Definitions:

Meganational Approach

A strategy by businesses to operate on a global scale, emphasizing uniformity in products and services across countries to exploit economies of scale.

Value Chain

A series of activities that a company performs to create value for its customers, from product design to post-sale service.

Location Economies

The cost advantages gained by a business due to its geographical position, often influencing its competitiveness.

Meganational Strategy

A business strategy that emphasizes operating and competing in multiple countries as one global market.