A potential problem with piece-rate plans is that:
A. it is difficult for managers to enforce.
B. workers have no incentive to work hard.
C. workers may put little emphasis on the quality of the good.
D. workers will have a tendency to under-produce the good.
Answer: C
Economics
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Being the first to sell a particular good can give a firm advantages over other firms that sell similar products. What is the name given to these advantages?
A) first come, first served B) follow the leader C) first-mover D) first to market
Economics
The steeper the labor supply curve,
A) the higher the wage the monopsonist pays. B) the lower the wage the monopsonist pays. C) the smaller the difference between the wage and the marginal expenditure on labor. D) the better off workers are.
Economics