An Effect of Variable Pay Plans Is That ____ Incentives

question 82

Multiple Choice

An effect of variable pay plans is that ____ incentives increase the competition among individual employees.

• A) profit-sharing
• B) individual
• C) work team
• D) organizational

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Definitions:

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in a balance between production and consumption.

Equilibrium Quantity

The volume of commodities or services provided that coincides with the volume requested at the price of market balance.

Normal Good

A normal good is one whose demand increases when consumers' incomes increase and falls when incomes decrease, all else being equal.

Equilibrium Quantity

The quantity of a good or service at which supply and demand are balanced in a market.