Factor Income

question 11

Multiple Choice

Factor income

• A)consists largely of interest, dividends, and other income on foreign investments.
• B)is a theoretical construct of the factors of production, land, labor, capital, and entrepreneurial ability.
• C)is generally a very minor part of national income accounting, smaller than the statistical discrepancy.
• D)none of the above

Understand the differences between diversity management and employment equity.

Know the fundamental legal and ethical principles guiding employment equity and diversity management, including human rights legislation.

Understand the principles and legislation behind pay equity including the misconception that pay equity equates to equal pay for identical work.

Recognize the function and limitations of the Canadian Human Rights Commission (CHRC) within the context of human rights and discrimination complaints.

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Definitions:

Initiating Structure

A leadership behavior that involves setting up clear roles, responsibilities, and tasks for team members, aimed at organizing work and establishing clear directions.

Nurturing Followers

The act of supporting and encouraging followers’ development and well-being to enhance their performance and growth.

Employee Orientation

An approach or attitude by management that prioritizes the well-being, satisfaction, and development of employees in an organization.

Relationship-focused

An approach that prioritizes establishing, maintaining, and improving interpersonal connections within team or organizational settings.