Which of the Following Is True About a Piece Rate

question 87

Multiple Choice

Which of the following is true about a piece rate plan?

• A) It can be used for all types of jobs and in all types of industries.
• B) It is best suited for complex jobs and tasks.
• C) It can be used to encourage team work and collaboration.
• D) It has a direct link between the work and how much the employee earns.
• E) It encourages peers to perform as well as the co-workers and reduce conflicts.

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Definitions:

Price Elastic

Refers to the sensitivity of the quantity demanded of a good to a change in its price; high elasticity indicates that demand varies significantly with price.

Brand X Burger

A fictional or hypothetical brand used to discuss marketing, product differentiation, or consumer preference scenarios.

Demand For Food

Demand For Food describes the quantity of food products that consumers are willing and able to purchase at various price levels, usually influenced by factors like income, taste, and price.

Limit Competition

Strategies or practices aimed at reducing the level of competition within a market or industry.