Give a few examples of incentive compensation.
What will be an ideal response?
Piece rates and commissions, bonuses, prizes, salary revisions based on performance, promotions, titles, preferred office assignments, stock ownership are some examples of incentive compensation.
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_____ is an example of human specificity which raises the risks associated with opportunism
a. Car insurance purchased by an individual for his/her favorite car. b. Investment of an employer in company-specific skills. c. Purchasing immovable machines for a particular facility. d. Investment in research and development
Laissez-faire refers to a situation in which there is ____ with the workings of the market system
a. zero consumer involvement b. zero government interference c. minimal government interference d. complete government interference