According to the _____,In a Perfectly Competitive Economy,each Factor of Production

question 110

Multiple Choice

According to the _____,in a perfectly competitive economy,each factor of production is paid its equilibrium value of the marginal product.

• A) theory of labour supply
• B) efficiency-wage model
• C) theory of compensating differentials
• D) marginal productivity theory of income distribution

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Definitions:

Ancillary Workers

Support staff who provide essential services that complement the primary functions of an organization, but are not part of the core workforce.

Enhancing Productivity

The act of increasing the efficiency and effectiveness of processes or systems to produce more output with the same or fewer inputs.

Employee Motivation

Involves the processes and factors that drive employees to perform optimally, including both intrinsic motivators, like job satisfaction, and extrinsic motivators, such as rewards and recognition.

Organizational Competitiveness

Organizational competitiveness refers to the ability of an organization to develop and maintain advantages over its competitors through its products, services, strategies, or internal efficiencies.