ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -The Compensation is the monetary and non-monetary rewards given to the employees in return for their work done for the organization. Basically, the compensation is in the form of salaries and wages. There are several internal and external factors affecting employee compensation, which are discussed in detail below.
Detailed explanation-2: -Monetary benefits are rewards provided by an employer that are financial in nature. These may include cash rewards, bonus components, commission, gift cards, and more.
Detailed explanation-3: -You can reward people (almost) immediately. They are memorable. They provide great value for money. They spark intrinsic motivation. They help engage employees. They can help with attraction and retention.