Four Comparative Performance Appraisal Methods Are 1) Ranking, 2) Paired

question 49

True/False

Four comparative performance appraisal methods are 1) ranking, 2) paired comparison, 3) forced distribution and 4) graphic rating scales.

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Definitions:

Firm's Willingness

The degree to which a company is prepared to produce goods or services at a certain price.

Market Price

The price at which a product or service is sold in the open market.

Consumer Surplus

The gap between the price consumers are prepared to pay for a product or service and the actual amount they spend, indicating the value gained by consumers.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a particular price point, within a specific time period.