Asked by Emily Huber on May 20, 2024
Verified
Compensation paid in proportion to the number of units of personal output best describes:
A) royalties.
B) profit-sharing.
C) bonuses.
D) piece rates.
Piece Rates
Piece rates refer to a pay system where workers are paid a fixed rate for each unit of production completed, incentivizing higher productivity and efficiency.
Compensation
Payment or benefits provided to employees in exchange for their services or to make amends for loss or injury.
- Examine how various pay schemes, including stock options and profit sharing, influence the performance of employees and the corporation.
Verified Answer
TP
Thenuka PERERAMay 23, 2024
Final Answer :
D
Explanation :
Piece rates are a form of compensation where an employee is paid a fixed amount for each unit of work or output they produce. This is common in manufacturing, where workers are paid by the number of items they produce, rather than a fixed salary or hourly wage.
Learning Objectives
- Examine how various pay schemes, including stock options and profit sharing, influence the performance of employees and the corporation.