Allowing Groups of Employees to Share in Any Savings or "Gains

question 128

Multiple Choice

Allowing groups of employees to share in any savings or "gains" realized when their efforts result in measurable cost reductions or productivity increases is called

• A) loss sharing.
• B) gain-sharing.
• C) bonus pay.
• D) employee stock ownership plan.
• E) gains pay.

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Definitions:

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in the price of that good, quantified as the percentage change in quantity demanded divided by the percentage change in price.

Demand

The amount of a product or service that buyers are ready and capable of buying at different price levels over a specific time frame.

Supply Curve

A graph showing the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell.

Price Elasticity

A measure indicating the extent to which the demand for a merchandise changes following a price adjustment.