A 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 compensation system that pays workers based on the number of units they produce. It is not related to present value, hourly rates for managers, or interest rates.

A Piece Rate Is