With a Skill-Based Pay System,training Is Necessitated by Organizational Need

question 25

True/False

With a skill-based pay system,training is necessitated by organizational need rather than employee desire.

---

Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition where there is no tendency for change.

Total Revenue

A financial measure defining the income generated from business activities or operations without deducting expenses.

Price Rationing

The allocation of goods among consumers using prices, where the goods go to those willing to pay the highest price, often used when demand exceeds supply.

Able

Generally refers to having the capacity, skill, or qualifications to perform an action or task.