To Help with Motivation,long-Term Productivity,and Retention,firms with Internal Labor Markets

question 43

Multiple Choice

To help with motivation,long-term productivity,and retention,firms with internal labor markets tend to offer all of the following except

• A)efficiency wages.
• B)benchmark competitive wages.
• C)pay based on job seniority.
• D)internally based promotion systems.

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Definitions:

Social Class

A division of a society based on social and economic status.

Postindustrial Society

A society economically dependent upon the production and distribution of services, information, and knowledge.

Agricultural Society

A society that relies on farming and cultivation of the land as the primary source of livelihood and economic activity.

Industrial Society

A society characterized by a reliance on mechanized labor to create goods, leading to urbanization and changes in social structures.