Voluntary Costs Refer to Internal and External Failure Costs

question 43

True/False

Voluntary costs refer to internal and external failure costs.

---

Definitions:

Wage Trends

Refers to the patterns or movements in wages or salaries over a period of time within an industry, profession, or the economy at large.

Red Circle Rates

Payment rates above the maximum of the pay range

Pay Range

The spectrum of wages set by an employer for a specific job or grade, showing the minimum, midpoint, and maximum salary that can be earned.