When Using the Job Classification Method of Job Evaluation,raters Categorize

question 83

Multiple Choice

When using the job classification method of job evaluation,raters categorize jobs into groups of similar jobs called ________.

• A) classes
• B) grades
• C) sections
• D) schedules
• E) cohorts

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Definitions:

Marginal Product

Marginal product refers to the additional output generated by employing one more unit of a specific factor of production, holding all other factors constant.

Labor

The exertion of mental or physical strength by humans to create goods and services.

Fixed Cost

Fixed cost refers to a cost that does not change with the level of goods or services produced by a business over a certain period.

Production

The creation or manufacture of goods and services with the combination of labor, equipment, technologies, and raw materials.