Factors Such as What the Individual's Level Is in the Organization

question 162

True/False

Factors such as what the individual's level is in the organization or how much experience he or she has do not determine basic compensation.

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Definitions:

Common Resources

Resources that are non-excludable but rivalrous, meaning they are available to everyone, but one person's use diminishes another's ability to use it.

Nonrival in Consumption

A characteristic of some goods where one person's consumption does not reduce the availability of the good for consumption by others.

Nonexcludable

A characteristic of a good or service where it is not possible to prevent people who have not paid for it from having access to it.

Negative Externality

A cost that is suffered by a third party as a result of an economic transaction.