Which of the following is an individual incentive plan that sets incentive rates based on the completion of a job in a predetermined standard time?

(a) A differential piece rate plan
(b) Improshare
(c) Straight piecework
(d) A standard hour plan

Answer: (d) A standard hour plan

Business

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Calculate the average relative price of the product of a business that has a customer value of 36, and a below-average relative product quality of 114

A) -78 B) -36 C) 150 D) 78 E) 36

Business

Federal legislation on price-fixing requires that sellers set their prices ________

A) based on their fixed and variable costs B) without communication with competitors C) to achieve a specified profit margin D) consistently with all customers E) consistently throughout a region

Business