suppose leather riding boots cost only 25% of what they cost in the u.s. however, the obama administration, in an attempt to protect domestic producers of leather products, imposes a 400% import tariff on leather riding boots from canada. what is the result?

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Answer 1

If the Obama administration imposes a 400% import tariff on leather riding boots from Canada, the result is that the price of the Canadian leather riding boots will increase significantly for American consumers.

What is the result of importing Tariff?

Suppose a pair of leather riding boots costs $100 in the U.S., but only $25 in Canada without the tariff. After the tariff, the price of the Canadian boots would increase to $125, which is still cheaper than the U.S. price. However, the increased price of the Canadian boots may make them less competitive with U.S. boots, which could lead to a decline in demand for the Canadian boots.

In addition, the tariff could lead to retaliation by Canada, such as imposing tariffs on U.S. goods, which could harm U.S. exporters. This could result in a trade war between the two countries, with negative economic consequences for both sides.

Overall, while the tariff may provide some protection for domestic producers of leather products, it also has the potential to harm consumers, producers, and the overall economy through the effects of trade retaliation.

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Related Questions

a statistical method for identifying cost behavior is called?

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Cost-volume-profit (CVP) analysis is also known as "Identifying Cost Behavior." It makes income predictions about the impact of costs and sales behaviour. Within this...

What is the synonym of identifying?

recognize—to be able to tell what something is (and frequently to know its name), as in He knew it was a monarch butterfly the moment he saw it. identify or specify, as in Finally, my mechanic was able to recognize/diagnose/locate the issue.

Personal information that enables the individual to be directly identified and that is required for data collection, verification, and matching but not for the purpose of generating statistical conclusions.

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Answer: Regression

Explanation:

product cost in total and per unit grin company manufactures digital cameras. in january, grin produced 3,750 cameras with the following costs: line item description amount direct materials $800,000 direct labor 160,000 manufacturing overhead 640,000 there were no beginning or ending inventories of wip. required: 1. what was the total product cost in january? fill in the blank 1 of 1$ 2. what was the product cost per unit in january? round your answer to the nearest cent. fill in the blank 1 of 1$ per unit

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In January, the total cost of the product was $1,600,000. In January, the product cost $426.67 per unit. We divide the total product cost by the number of units produced to determine the product cost per unit.

Total product cost / number of units produced = Product cost per unit Price per unit = $1,600,000 / 3,750 The unit cost of the product is $426.67. (rounded to the nearest cent) January, the total cost of the product was $1,600,000. In January, the product cost $426.67 per unit. We divide the total product cost by the number of units produced to determine the product cost per unit. product cost in total and per unit grin company manufactures digital cameras. in january, grin produced 3,750 cameras with the following costs.

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explain the three methods of costing and which one will yield the highest tax net income where price level is declining

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According to LIFO, inventory units that have recently been purchased go on sale first. When costs increase, the most priced item is recorded as an expense first, reducing the amount of net income that is taxable.

This will result in the lowest yearly income tax costs. Inventory is frequently a sizable current asset on the balance sheet of businesses that generate income by selling tangible goods. They are required to list their inventory costing technique, which may be FIFO, average cost, LIFO, or specific identification, in the notes to the financial statements. Companies use many methodologies for inventory valuation to assign a monetary value to the products in their inventory. Learn about several inventory valuation techniques, such as specific identification, first-in, first-out (FIFO) and last-in.

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the approach a company takes when it bases foreign operations on an informed knowledge of its organizational culture along with home- and host-country needs, capabilities, and constraints is called . question 22 options: polycentrism ethnocentrism neocentrism geocentrism

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the approach a company takes when it bases foreign operations on an informed knowledge of its organizational culture along with home- and host-country needs, capabilities, and constraints is called Geocentrism.

“ Geocentrism ” refers to a cosmological and planetary proposition, in which the Earth occupies the central position of the world system. In age and in the Middle periods, geocentrism was the most common cosmological view, although some astronomers and philosophical seminaries embraced indispensable fancies about worldly order. During the Renaissance, debates following Nicolaus Copernicus’s offer of a heliocentric planetary proposition urged a retrospection of traditional geocentric( and geostatic) arguments( see “ Copernicanism ” and “ Astronomy ”).

This also led to their revamping and expansion. Aristotle’s and Ptolemy’s arguments were attentively reevaluated . numerous scholars supposed them conclusive and thus stuck to terrestrial centrality indeed after parallax calculation( in the 1580s, especially Tycho Brahe) and telescopic substantiation( after 1610, especially Galileo Galilei) demonstrated the impossibility of geocentric paths for Mars and the inferior globes.

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what is the expected dollar rate of return on euro deposits if today's exchange rate is $1.20 per euro, next year's expected exchange rate is $1.23 per euro, the dollar interest rate is 10%, and the euro interest rate is 5%

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7.75% is the anticipated dollar rate of return on euro deposits. This indicates that, if the anticipated exchange rate holds true, an investor who converts dollars to euros and invests in euro.

We can use the formula below to determine the anticipated dollar rate of return on euro deposits: The expected return in dollars is calculated as [(1 + euro interest rate) x (expected future spot rate / spot rate)]. - 1 Euro Interest Rate: The current interest rate on deposits made in euros is 5%.

The predicted exchange rate for euros ($1.23 per euro in this situation) is known as the expected future spot rate.

Spot Rate: The current price of one euro ($1.20 in this example).

When we enter the values, we obtain: The expected dollar rate of return is calculated as [(1 + 0.05) x (1.23 / 1.20)]. - The expected return on a dollar equals 0.0775 percent.

As a result, 7.75% is the anticipated dollar rate of return on euro deposits.

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voltanis corporation has preferred stock outstanding that will pay an annual dividend of $3.87 every year in perpetuity. if the stock currently sells for $98.65 per share, what is the required return?

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Voltanis Corp. has preferred stock outstanding that will pay an annual dividend of $2.85 every year in perpetuity. If the stock currently sells for $92.87 per share, 3.07% is the required return.

R = $2.85/$92.87

= .0307,

or 3.07%

The necessary return on a stock is the expected rate of return on a financial asset or a stock. This interest rate is equal to the interest rate at which the cashflows from the stock would be discounted to the current price.

The dividend per share (DPS) is usually indicated as a percentage of the par value or as a fixed sum. In this scenario, we're considering the most basic type of preferred stock, with no convertibility or callable characteristics.

The value of preferred stock is equal to the present value (PV) of its monthly dividends (i.e. the cash flows to preferred shareholders), multiplied by a discount rate.

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question 1 imagine you are a project manager and two of your team members disagree about how to approach a workflow problem. the debate leads to a personal conflict, so you listen to their arguments and propose a compromise that will move the project forward. during which stage of team development does this scenario take place?

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This scenario takes place in the storming stage of team development.

What is storming stage?

Storming is the stage of group development during which team members begin to challenge each other's ideas, opinions, and authority. During this stage, teams may experience tension, conflict, and disagreements as team members jockey for position and power. It is important for the team leader to be able to effectively manage the conflict that arises during this stage and ensure that the group progresses towards its goal.

This is the stage where teams work to establish roles and relationships, and often comes with a period of conflict or tension as team members negotiate their working styles and approaches. In this case, the project manager is helping the team to move forward by facilitating a compromise solution that will help to resolve the dispute and keep the project on track.

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if the united states imposes an import quota on imported soybeans of q4 - q2, how much are the quota rents?

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The united states imposes an import quota on imported soybeans The quota rents (2q2 - 2q4 + 2)/3.

Assuming that the demand and supply curves for soybeans in the United States are represented by the equations:

Qd = 20 - P (domestic demand)

Qs = 2P (domestic supply)

where P is the domestic price of soybeans and Qd and Qs are the quantities demanded and supplied, respectively.

Also assuming that the world price of soybeans is $6 per bushel.

If the import quota imposed by the United States is equal to q4 - q2, then the domestic supply curve is reduced to:

Qs = 2(P - q4 + q2)

To find the new domestic price, we need to find the intersection of the new domestic supply curve with the original domestic demand curve:

Qd = Qs

20 - P = 2(P - q4 + q2)

20 - P = 2P - 2q4 + 2q2

3P = 20 + 2q2 - 2q4

P = (20 + 2q2 - 2q4)/3

Therefore, the new domestic price is (20 + 2q2 - 2q4)/3.

The quota rent is the difference between this new domestic price and the world price of $6 per bushel:

Quota Rent = (20 + 2q2 - 2q4)/3 - 6

Simplifying this expression, we get:

Quota Rent = (2q2 - 2q4 + 2)/3

So the quota rents are (2q2 - 2q4 + 2)/3. Note that we would need to know the specific values of q2 and q4 to calculate the exact amount of the quota rents.

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what do you think are some consequences of taking money out of your retirement early?

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Taking money out of your retirement early can have  significant consequences on your retirement savings, taxes, and long-term financial security.

What are the consequences of taking money out of your retirement early?Tax penalties: If you withdraw money from your retirement account before you reach the age of 59 1/2, you may be subject to a 10% early withdrawal penalty in addition to regular income taxes. This penalty can be substantial and can significantly reduce the amount of money you have available for retirement.Reduced retirement savings: When you withdraw money from your retirement account, you are reducing the amount of money you have available for retirement. This can have a significant impact on your retirement savings and may make it more difficult for you to achieve your retirement goals.Missed investment growth: The longer you keep your money invested in a retirement account, the more time it has to grow through compound interest. When you take money out early, you are missing out on this growth potential and reducing the overall value of your retirement savings.

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jing is considering whether to take a job placement in los angeles, california or mobile, alabama. before deciding, she is interested in understanding the cost-of-living differences between both places. jing will consult a cost of living comparison calculator to inform her decision. question 6 options: true false

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True. Jing is making a decision that could be influenced by the cost-of-living differences between two locations, and consulting a cost of living comparison calculator is a reasonable way to inform that decision.

What role does cost accounting play in making decisions?

Data for periodic income statements and balance sheets, as well as real numbers to compare with predictions for various periods, are provided by cost accounting. Business managers who analyse this data are better able to make decisions.

What part does cost theory play in corporate decisions?

Cost considerations are crucial while making company decisions. Pricing starts with the cost of manufacture. It assists managers in making wise decisions on things like how much to charge, whether to place a specific order for inputs or not, whether to drop or add a product to the current product lineup, and more.

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what was the name of the data and relationship model developed by peter chen in 1976?

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Entity–relationship modeling was the name of the data and relationship model developed by Peter Chen in 1976.

What does "entity relationship model" mean?

In terms of entities and relationships, the entity relationship model (ERM) is a conceptual model that depicts the information structure of a problem area. An entity relationship diagram (ERD) is a visual representation of the modelling outcome produced by the ERM (ERD).

What is the ER model's significance?

The conceptual design of databases is frequently described by an ER Diagram in DBMS. Viewing the database's structure before adopting it benefits both users and database developers.

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which of the following statements about the price elasticity of demand is correct? question 8 options: the price elasticity of demand for a good measures the willingness of buyers of the good to buy less of the good as its price increases. none of the above are correct. other things equal, if good x has close substitutes and good y does not have close substitutes, then the demand for good x will be more elastic than the demand for good y. price elasticity of demand reflects the many economic, psychological, and social forces that shape consumer tastes.

Answers

The correct statement about the price elasticity of demand is: "Other things equal, if good X has close substitutes and good Y does not have close substitutes, then the demand for good X will be more elastic than the demand for good Y."

This remark illustrates the idea that the availability of replacements for a specific product influences price elasticity of demand. If a product has several close substitutes on the market, consumers have more options to choose from and are thus more sensitive to changes in the product's price. As a result, the product's demand will be more elastic.

In contrast, if a product lacks close substitutes on the market, buyers may have fewer options and may be ready to pay more for the goods, making demand for the product less elastic.

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procter & gamble recently lost $550 million on its operations in russia due to devaluation of the russian ruble, which is a risk associated with fluctuations in

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Procter & Gamble recently experienced a $550 million loss on its operations in Russia as a result of the Russian ruble's depreciation. Changes in the currency exchange rate pose a danger.

Currency Exchange Rate: What is it?

Value of one currency expressed in terms of another, such as the cost of a US dollar in Swiss francs, euros, or Japanese yen. When pricing products for global markets, exchange rates should be a key consideration. Mattel had to learn this lesson the hard way. The company recently struggled to sell its popular Holiday Barbie doll and accessories in numerous foreign countries because of high rates. Why? Barbie's prices, expressed in U.S. dollars, were set without taking into account how they would convert to foreign currencies and were therefore too high for many customers.

Exchange rate fluctuations have an impact on the sales and profits made by international firms. For instance, when foreign currencies can buy more U.S. dollars, U.S. items are less expensive for international customers. Short-term fluctuations, however, have a considerable impact on the profitability of multinational firms. 20 Currency rate fluctuations allowed Hewlett-Packard to generate an additional profit of more than $500,000 over the past year. The weakening of the Russian currency in 2001, on the other hand, cost Procter & Gamble $550 million in losses from its business in Russia.

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what is the best explanation of the fact that when a store manager uses little's law to predict customer flow rate, the answer is 10.43 per hour?

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The store manager's prediction of customer flow rate is 10.43 per hour, based on Little's Law which states that the average number of customers in a system is equal to their average flow rate multiplied by their average residence time.

Little's Law states that the average number of customers in a system is equal to the average arrival rate multiplied by the average time those customers spend in the system. In this case, the store manager has calculated that the average arrival rate is 10.43 customers per hour. This means that, on average, 10.43 customers enter the store per hour.

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the agreement between bob and cathy says nothing about assignment. may bob assign his claim to hardknuckle?

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Bob may not be able to assign his claim to hardknuckle without Cathy's consent.

If the agreement does not address assignment at all, then it may be subject to the default rules of contract law. In most jurisdictions, absent an express prohibition on assignment, contracts are generally assignable unless assignment would violate the underlying terms of the agreement or would substantially change the obligor's duty or increase the risk of performance.

So, if the agreement between Bob and Cathy is silent on assignment and does not prohibit or restrict it, Bob may be able to assign his claim to Hardknuckle without Cathy's consent. However, it is important to note that Bob should review the agreement and seek legal advice to ensure that assignment is not prohibited or restricted, and that any assignment complies with applicable law.

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providing a linkage between savers and investors is an important aspect of: group of answer choices government. the public sector. consumers. a well-functioning financial system.

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providing a linkage between savers and investors is an important aspect of: a well-functioning financial system.

A well-functioning financial system is the group of answer choices that provides a linkage between savers and investors. The financial system allows savers to invest their savings by providing them with various investment options, such as stocks, bonds, and mutual funds. At the same time, it provides investors with the necessary capital to finance their investments.

The financial system plays an essential role in channeling savings into productive investments that can drive economic growth. It allows investors to raise capital at a reasonable cost, which helps them to expand their businesses, create jobs, and contribute to economic development. Moreover, it allows savers to earn a return on their savings by investing them in a diversified portfolio of assets.

Therefore, a well-functioning financial system is crucial for economic growth and development, and providing a linkage between savers and investors is one of its essential functions.

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the characteristics of consumers and organizations that marketers use to divide a market into segments are known as _______.

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Marketers divide a market into segments based on the traits of consumers and organisations, which are referred to as segmentation grounds.

Which segments fall into which categories?

Interests, a way of life, age, gender, and other factors are typical features of a market segment. Common examples include market segmentation based on location, demography, psychology, and behaviour. Geographic, psychographic, behavioural, and demographic market segmentation are considered to be the four primary categories; however, there are other variants on these four major types as well as a wide range of additional tactics you might employ. You might wish to consider the following additional strategies.

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to create the most ________ for someone like gabby’s dad, coffee houses need to minimize their expenses and keep their prices down. fancy furniture and free wifi are simply not of interest to consumers who want a quick, inexpensive cup of coffee.

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To create the most customer value for someone like gabby’s dad, coffee houses need to minimize their expenses and keep their prices down. fancy furniture and free wifi are simply not of interest to consumers who want a quick, inexpensive cup of coffee.

Which kind of market segmentation do most luxury product marketers who sell to the wealthy use?

Luxury brands concentrate on psychographic segmentation by looking at the lives of their customers. Since their purchasing decisions are mostly affected by these categories, the majority of luxury businesses have over the years targeted consumers whose lifestyles are primarily models, singers, film stars, etc.

Which sort of market segmentation takes into account consumers' spending and buying patterns and interactions with brands?

The technique of categorizing clients based on typical behaviors they display when interacting with your business is known as behavioral segmentation. You can divide your audience into groups for this form of segmentation based on: finance practices. Purchase practices.

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an amendment to the foreign corrupt practices act allowed for the use of blank which allow a business to receive the standard treatment it ought to receive from a foreign government. multiple choice question.

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An amendment to the Foreign Corrupt Practices Act allowed for the use of "Facilitating Payments" which allow a business to receive the standard treatment it ought to receive from a foreign government.

Why it is?

Facilitating payments, also known as "grease payments," are payments made to foreign officials to expedite or facilitate routine governmental actions, such as obtaining permits or processing paperwork.

The FCPA prohibits bribes to foreign officials but includes a narrow exception for facilitating payments.

This exception was added to the FCPA to allow companies to engage in certain types of payments that are generally considered acceptable in foreign countries to expedite routine government actions.

It's worth noting that while facilitating payments are allowed under the FCPA, they can still be a gray area and may be considered unethical by some. Companies should always exercise caution and carefully assess the risks and potential consequences of any type of payment made to foreign officials.

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jane is unmarried and has no children, but provides more than half of her mother's financial support. jane's mother lives in an apartment across town and has a part-time job earning $5,000 a year. which is the most advantageous filing status available to jane?

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Jane's mother has a part-time job earning $5,000 a year and resides in an apartment across the street. Which of the available filing statuses is the most advantageous for Jane Single.

By earning, what do you mean?

Your earnings are the money you take home after working a job. When you find out that your pay will be more than generous, babysitting will excite you much more. The majority of your profits come from work you've done, though you can also refer to money you make from investments as earnings.

Positive net income is defined as having a net income of at least one dollar ($1) every month. Positive net income is defined as net income of at least one dollar ($1) for the applicable period.

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What causes the price of bitcoin to rise and fall?

Answers

Answer: Bitcoin's price is primarily affected by its supply, the market's demand for it, availability, competing cryptocurrencies, and investor sentiment.

Question 1
All of the below are examples of noteworthy news that could generate positive media mentions, EXCEPT


Hiring a new employee




A partnership with a local nonprofit that you donate to




Growth of your business into new markets or product lines




A new product or service rollout

Answers

Answer:

A new product or service rollout

Explanation:

While a new product or service rollout can be important for a business, it is not necessarily noteworthy news that would generate positive media mentions. Positive media mentions typically come from news that is unique, impactful, or of significant interest to the public, such as a partnership with a local nonprofit or growth of a business into new markets or product lines. Hiring a new employee is also noteworthy news, as it can demonstrate growth and success for a business.

at jaa, how are strategic objectives, context, stakeholders, and risk criteria linked? support your comments with specific examples of the link in these four areas.

Answers

Strategic objectives, context, stakeholders, and risk criteria are all crucial elements that must be taken into account when formulating and putting into practise a successful strategy at JAA.

Stakeholders are people or groups who have an interest in a company or its operations. Examples include shareholders, consumers, suppliers, employees, and communities. Depending on their amount of commitment and dedication to the organization's success, these stakeholders may have varied levels of influence over it. incearca incearcaurmatoareleurmatoareleambulambulambulambulambulambulambulambulambulambulambulambulambulambulambulambulambulambulambul Organizations may make better decisions, foster trust, and produce value for all parties by interacting with stakeholders and taking into account their perspectives and requirements. Negative outcomes, such as reputational harm, income loss, or legal action, may be the result of ineffective stakeholder management.

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Growing up with dyslexia, Stephanie always struggled in English and Reading. Math was a breeze for her, though. Along the way, there were a few teachers who really worked closely with Stephanie to help her absorb the information she needed, and they showed her how to make learning fun! Stephanie particularly loved studying trigonometry and even her high school teacher is having difficulty keeping up with her. Now that she has been able to figure out how to study, education no longer scares Stephanie. In fact, she finds it a great way to explore and understand the world around her!

Based on what you know about Stephanie, create a personalized career pathway form for her. On this form, you need to include the following information:

Recommended pathway for Stephanie
Skills that Stephanie has that would be valuable in this career
What type of education is required to work in this career pathway
A description of where she might work and what tasks she might perform

Answers

The suggested career path for Stephanie is in architectural and structural designs. She can also excel in mechanical and civil engineering, particularly in the areas of design and fabrication requirements.

Explain every detail, in your own words?

a. Stephanie has a number of qualities that can be useful in her work, including her capacity for information retention, her proficiency with trigonometry, and her capacity for exploration and understanding of her surroundings.

b. Since Stephanie is no longer afraid of school, she can continue her formal education. She can decide to learn through non-formal means, such as working as an apprentice architect, if she thinks it's a little unnecessary.

c. Stephanie excels in many engineering disciplines, particularly design, where the majority of her trigonometry knowledge will be useful.

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refer to the graphs above. suppose a firm is currently producing 500 computers per week and charging a price of $1000. how will the firm respond to a negative demand shock if prices are flexible?

Answers

Sell 650 laptops at a cost of $1,000 each. The graph can be found in the file below. A positive demand shock is depicted by D3 in the graph as a shift to the right of the demand curve.

Negative events reduce output and increase unemployment. Positive shocks increase production while decreasing unemployment. The impact on inflation, however, will vary based on whether the shock was a supply shock or a demand shock.

In D3, the point of equilibrium intersects at $1,000 and 650 computers; thus, in the event of a positive demand shock, the firm would make 650 computers and charge $1,000.

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how to estimate the average number of days that elapses between the right to invoice customers and the recognition of the associated revenue

Answers

The average collection period measures how long it takes a company to collect accounts receivable payments due from its clients (AR).

Businesses check their cash balance to make sure they have enough to cover their debts on time using the average collection period. A crucial number for businesses that primarily rely on receivables for their cash flows is the average collection period, which serves as a gauge of how well a company manages its accounts receivable. The phrase "accounts receivable" in business refers to the sum of money that organisations owe a firm after making a purchase of goods or services. Customers are typically given credit by businesses when making these sales to them. Current assets (AR) are stated as a measure of a company's liquidity on their balance sheets.

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g suppose you wish to invest money safely and are trying to decide between stock options in two companies. the average rates of return are the same for both companies but, one company has a much larger standard deviation of its rates of return. a. which company should you invest in? the company with the smaller standard deviation the company with the larger standard deviation

Answers

You wish to make safe investments, according to the provided circumstances. This reveals your risk aversion. The stock with a lower standard deviation will be our choice.

Less variation from the average return is indicated by a lower standard deviation. Less variance means less chance of both a significant upside and a significant negative. A significant downside is something that risk-averse investors wish to avoid.

As a result, because it carries less risk, you will select the stock with a lower standard deviation. As a result, for this kind of investor, the stock with a lower standard deviation is a superior option.

A stock with a low standard deviation will offer similar average returns but little risk, as both its downside and upside will be modest.

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a community college faculty is negotiating a new contract with the school board. the distribution of faculty salaries is skewed right by several faculty members who make over​ $100,000 per year. if the faculty want to give the community the impression that they deserve higher​ salaries, should they advertise the mean or median of their current​ salaries?

Answers

By emphasizing the median salary, the faculty can highlight the fact that most of them earn modest salaries and may deserve higher compensation for their work.

Why it is?

If the distribution of faculty salaries is skewed right and there are several faculty members who make over $100,000 per year, then the mean salary will be higher than the median salary.

In this case, advertising the mean salary would likely give the impression that the faculty earns higher salaries than they actually do, since the mean is sensitive to outliers or extreme values in the distribution.

Therefore, if the faculty wants to give the community the impression that they deserve higher salaries, it would be more appropriate to advertise the median salary rather than the mean salary.

The median is less affected by outliers and provides a better representation of the typical or central salary for the faculty. By emphasizing the median salary, the faculty can highlight the fact that most of them earn modest salaries and may deserve higher compensation for their work.

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marginal analysis studies how individuals decide:

Answers

Marginal analysis studies how individuals decide on the allocation of resources by comparing the additional benefits of an activity to the additional costs incurred.

Marginal analysis is a tool used by economists to help make decisions about how to allocate resources in the most efficient way possible. Marginal analysis looks at the additional benefits and costs of an activity to determine if it is worth pursuing. If the additional benefits outweigh the additional costs, then the activity is worth pursuing. If the additional costs outweigh the additional benefits, then the activity should not be pursued.

Marginal analysis is a decision making tool in projecting the maximum potential profits for the company by comparing the costs and benefits of an activity. Marginal analysis is important on observing changes and evaluate the opportunity cost of an action.

Overall, marginal analysis is an important tool in economics that helps individuals and businesses make informed decisions about how to allocate resources in the most efficient way possible.

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the two most important reasons for adopting person-focused pay? person-focused pay programs represent important innovations in the compensation field. person-focused pay systems imply that employees must move away from viewing pay as an entitlement. instead, these systems treat compensation as a reward earned for acquiring and implementing job-relevant knowledge and skills. advocates of person-focused pay programs offer two key reasons that firms seeking competitive advantage should adopt this form of compensation: technological innovation and increased global competition. question 2 options: true false

Answers

True. Technological advancement and heightened international competitiveness are the two most significant justifications for adopting person-focused remuneration. Employees who acquire and apply job

Person-focused pay is a type of compensation plan intended to encourage employees to acquire and apply information and skills that are pertinent to their jobs. By seeing compensation as a reward that must be earned, this strategy departs from the conventional notion of pay as an entitlement. Person-focused compensation schemes put an emphasis on each employee's unique contribution to the success of the company. To keep up with the shifting requirements of their jobs and the larger industry, employees are urged to advance their knowledge and abilities. A trained and flexible staff is crucial to sustaining a competitive edge in industries that are subject to technological innovation and rising

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