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The Three Referent Categories Used by Employees to Assess Equity

question 119

Multiple Choice

The three referent categories used by employees to assess equity are ________.


Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.

Demand Falls

A situation where there is a decrease in the quantity of a product or service that consumers are willing and able to purchase at a given price.

Equilibrium Quantity

At the market equilibrium price, the amount of goods or services offered matches the amount requested.

Supply Falls

A condition in which the quantity of a product or service available in the market decreases, potentially leading to higher prices.

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