List and briefly describe the three kinds of compensation packages

What will be an ideal response?

a. Straight salary – this kind of compensation scheme is useful when management is more interested in long-term goals than simply selling as much volume as possible.
b. Straight commission – such a scheme rewards the best performers and is also easy to manage because the payments are tied directly to visible performance.
c. Combination – these plans provide some incentive to perform non-revenue activities and a base, secure level of income while still rewarding the best performers above the rest.