Examlex
Which of the following factors has the LEAST effect on the design of an organization's pay plan?
Elastic Demand
A situation where the quantity demanded of a good or service significantly changes in response to a change in its price.
Short Run
A period in economic theory during which at least one factor of production is considered fixed and cannot be changed.
Resource Suppliers
Entities or individuals that provide the necessary inputs (like raw materials, labor, and capital) for production processes.
Marginal Product
The additional output resulting from the use of one more unit of a production input.
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