piece rate is:
A)the discounted present value of a day's worth of production output.
B)an hourly rate paid to mid-level managers.
C)a method to compensate workers for the number of units of output they produce.
D)the interest rate paid to finance a firm's output costs.

Question

Quizplus · Accepted Answer

Piece rate is a method of payment where workers are compensated based on the number of units or pieces of output they produce. It is not related to discounted present value, hourly rates for managers or interest rates paid to finance a firm's output costs.

Piece Rate Is