________ Is the Relative Pay of Jobs in an Organization

question 50

Multiple Choice

________ is the relative pay of jobs in an organization.

• A)Pay level
• B)Pay grade
• C)Compa-ratio
• D)Range spread
• E)Job structure

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Definitions:

Variable Input

A variable input is one whose amount can be adjusted in the short term to either raise or lower output levels.

MRP

Acronym for Marginal Revenue Product, which measures the addition to total revenue resulting from the sale of the output produced by one more unit of a variable input.

Haircuts

Often used as an example in economics, referring to a service that cannot be stored, saved, or inventoried, and must be consumed at the point of production.

MRP

Material Requirements Planning, a planning and inventory control system used to manage manufacturing processes.