ENTREPRENEURIAL OPERATIONS
HUMAN RESOURCE MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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He is paid according to how much time is worked
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He is paid according to how much output is made
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He is paid according to how many items are sold
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None of the above
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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: -The piece rate system is that system of wage payment in which the workers are paid on the basis of the units of output produced. Piece rate system does not consider the time spent by the workers. Piece rate system is the method of remunerating the workers according to the number of unit produced or job completed.
Detailed explanation-3: -Quantity produced = output x piece rate The quantity produced by a worker will be multiplied by the rate per unit for calculating wages. An equitable piece rate should be fixed for giving incentive to the workers for producing more.