What term best refers to a wage payment made to an employee that is large enough for the employee to purchase the median amount of personal goods and services?
A)Living wage
B)Efficiency wage
C)Minimum wage
D)Efficiency payment
E)Termination wage

Question

Quizplus · Accepted Answer

A living wage refers to a wage payment that is sufficient for an employee to afford the basic necessities of life, including food, housing, healthcare, and other essential goods and services. It is usually based on the local cost of living and is set at a level that allows workers to maintain a decent standard of living without falling into poverty. A living wage is often higher than the minimum wage, which is the legal minimum payment that employers are required to pay their workers. An efficiency wage and an efficiency payment are different concepts that relate to productivity and performance-based compensation, while a termination wage is a payment made to an employee who has been laid off or terminated from their job.

What Term Best Refers to a Wage Payment Made to an Employee