BUSINESS ADMINISTRATION
PRINCIPLES AND PRACTICE OF MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Work that is provided for at a fixed rate
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Work that is paid for at a fixed rate
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Work that is paid for at a temporary rate
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Fixed Job rates
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Detailed explanation-1: -Piece rate pay occurs when workers are paid by the unit performed (e.g. the number of tee shirts or bricks produced) instead of being paid on the basis of time spent on the job.
Detailed explanation-2: -Piecework, also called task-based pay or output-based pay, is a way of paying workers for what they accomplish based on the measurable outcome of their work. For example, if a worker’s task is to glue birdhouses together, you would pay them a certain amount of money for each birdhouse they glue together.
Detailed explanation-3: -piecework. noun. piece·work ˈpē-ˌswərk. : work paid for at a rate based on the number of articles produced rather than the time spent working. pieceworker.
Detailed explanation-4: -Under a piecework plan, an employee is paid a certain amount of money per unit produced. For example, Patty is paid $20 for each suit she completes. If she completes 10 suits in one day, she is paid $200 for the day. Sometimes employees are paid a base pay along with the piecework rate.
Detailed explanation-5: -Opposite to the time wage, piece rate system is the method of wage payment where wages is fixed per unit of output produced. Wages is fixed on per unit basis. Wages of a worker will directly in proportion to the units produced.