Julianna,the HR Manager at Hudson Corp

question 8

Multiple Choice

Julianna,the HR manager at Hudson Corp. ,wants to ensure that incentive pay rewards the individuals who contribute the most to the organization and whose contributions have grown since their pay rates were originally set.She determines that she can best accomplish these goals by paying an incentive amount based on individuals' performance ratings and compa-ratios.In this scenario,Julianna would be applying the system of

• A) merit pay.
• B) piecework pay.
• C) standard hour pay.
• D) commissions.
• E) attendance bonus.

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Definitions:

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices over a given period of time.

Supply

The total amount of a product or service available for purchase at any specified price.

Firms

Business organizations engaged in commercial, industrial, or professional activities, aiming to earn a profit.

Profit-Maximizing Output

The level of production at which a firm achieves the maximum possible profits, considering its costs of production and the market price of its goods or services.