Below are the questions to answer

2. Describe the requirements for effective incentive plans.
4. Distinguish among piecework rate, merit pay, commissions, and standard hour plans.
6. Understand how merit pay increase relates to compensation -ratio.
8. Understand the pros and cons of merit pay.
10. Distinguish among gainsharing, group bonuses, profit sharing, and balanced scorecard.
12. Understand the similarities and differences between stock options and employee stock ownership plan (ESOP).