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Supply of Labour

Which of the ...

Question

Which of the following is a merit of the time-rate system of payment to the employees?

[1 mark]

A

Lack of incentives

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B

Low efficiency

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C

Simple and easy to understand

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D

Close supervision is necessary

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Solution

The correct option is C Simple and easy to understand
Under the time-rate system, wages are paid on the basis of time spent on the job. It is an easy and simple way to calculate and evaluate.

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Supply of Labour

Standard XI Economics

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