Skill Based Pay Systems and Flat Organizational Structures Are Likely

question 109

Short Answer

Skill based pay systems and flat organizational structures are likely to increase __________________ flexibility.

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Definitions:

Command Economies

Economic systems where government decisions rather than market mechanisms primarily dictate production, allocation, and prices of goods and services.

Laissez-Faire Economy

A market system in which private-party transactions are conducted without the interference of government actions like regulations, privileges, tariffs, and subsidies.

Marginal Tax Rate

The tax rate paid on the next dollar earned.

Average Tax Rate

Total amount of tax paid divided by total income.