Examlex
Patton suggests that in a compensation plan there are seven criteria for effectiveness.The first is that compensation should be adequate.What are the remaining six criteria?
Marginal Productivity Theory
An economic theory that relates the addition of a unit of labor or capital to the production process to the incremental increase in outputs.
Production Incentives
Rewards or incentives designed to encourage increased productivity or output by employees or companies.
Marginal Productivity Theory
An economic theory that suggests the price of a factor of production (like labor or capital) is determined by its marginal productivity, or the additional output generated by one more unit of the factor.
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