Asked by Branevi Pakeerathan on Jul 22, 2024
Verified
The pay offered by an organization is not limited by its presence in a product market.
Product Market
The marketplace where final goods or services are traded between sellers and consumers or businesses.
- Comprehend the impact of external market elements, such as limitations in the product market, on salary determination.
Verified Answer
RR
Rameela RatnavarathanJul 23, 2024
Final Answer :
False
Explanation :
The pay offered by an organization can be limited by its presence in a product market because the organization's ability to generate revenue and profit from its products or services directly impacts its financial capacity to offer competitive salaries. Market competition, demand for the product, and overall economic conditions in the product market can all influence the organization's pay structure.
Learning Objectives
- Comprehend the impact of external market elements, such as limitations in the product market, on salary determination.