piece-rate system of payment
1differential piece-rate system — noun : a method of wage payment whereby after tests have set a standard time for a task the worker receives a high piece rate for doing the job in task time and a lower piece rate if he takes longer than task time …
2Piece work — or piecework describes types of employment in which a worker is paid a fixed piece rate for each unit produced or action performed. Piece work is also a form of performance related pay (PRP) and is the oldest form of performance pay.In a… …
3payment by results — A system of payment in which an employee s pay is directly linked to his performance. The majority are premium bonus schemes. See also piece rate; lump sum …
4postal system — System that allows persons to send letters, parcels, or packages to addressees in the same country or abroad. Postal systems are usually government run and paid for by a combination of user charges and government subsidies. There are early… …
5price system — ▪ economics Introduction a means of organizing economic activity. It does this primarily by coordinating the decisions of consumers, producers, and owners of productive resources. Millions of economic agents who have no direct communication …
6Transaction processing system — A Transaction Processing System To be considered a transaction processing system the computer must pass the ACID test.From a technical perspective, a Transaction Processing System (or Transaction Processing Monitor) monitors transaction programs …
7Capital, Volume I — is the first of three volumes in Karl Marx s monumental work, Das Kapital, and the only volume to be published during his lifetime. Originally published in 1867, Marx s aim in Capital, Volume I is to uncover and explain the laws specific to the… …
8money — moneyless, adj. /mun ee/, n., pl. moneys, monies, adj. n. 1. any circulating medium of exchange, including coins, paper money, and demand deposits. 2. See paper money. 3. gold, silver, or other metal in pieces of convenient form stamped by public …
9ECONOMIC AFFAIRS — THE PRE MANDATE (LATE OTTOMAN) PERIOD Geography and Borders In September 1923 a new political entity was formally recognized by the international community. Palestine, or Ereẓ Israel as Jews have continued to refer to it for 2,000 years,… …
10income tax — a tax levied on incomes, esp. an annual government tax on personal incomes. [1790 1800] * * * Levy imposed by public authority on the incomes of persons or corporations within its jurisdiction. In nations with an advanced system of private… …
