Nonfinancial Compensation Consists of the Satisfaction That a Person Receives

question 101

True/False

Nonfinancial compensation consists of the satisfaction that a person receives from the psychological environment in which the person works.

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Definitions:

Marginal Productivities

Describes the additional output generated by employing one more unit of input, holding other inputs constant.

Higher Earnings

Increased income from wages, salaries, investments, or other sources, typically compared to a previous period or average.

Better-Educated

Referring to individuals who have received a higher level of formal education, often resulting in improved skills, knowledge, and job opportunities.

Human-Capital Theory

A theory that views individuals' skills and knowledge as valuable assets that can enhance their productivity and income.