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    peter wong
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    This document provides sample economics exam questions from Hong Kong regarding different methods of wage payment. It discusses paying workers by time rates, piece rates, fixed salaries, profit sharing, and commissions. Some key points covered include: - Filipino maids are often paid by time rates instead of piece rates to prevent overwork and ensure a regular wage. - Sharing total revenue with taxi drivers provides incentive to work harder but lacks fixed costs coverage for owners. - Paying managers a fixed salary plus profit sharing gives incentive to increase profits but guarantees income. - Piece rates incentivize higher productivity from manufacturers but lack flexibility and can increase costs. - Commissions motivate car salespeople to sell more cars while also providing

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    This document provides sample economics exam questions from Hong Kong regarding different methods of wage payment. It discusses paying workers by time rates, piece rates, fixed salaries, profit sharing, and commissions. Some key points covered include: - Filipino maids are often paid by time rates instead of piece rates to prevent overwork and ensure a regular wage. - Sharing total revenue with taxi drivers provides incentive to work harder but lacks fixed costs coverage for owners. - Paying managers a fixed salary plus profit sharing gives incentive to increase profits but guarantees income. - Piece rates incentivize higher productivity from manufacturers but lack flexibility and can increase costs. - Commissions motivate car salespeople to sell more cars while also providing

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    77 views2 pages

    Econ 4.4 PDF

    Uploaded by

    peter wong
    This document provides sample economics exam questions from Hong Kong regarding different methods of wage payment. It discusses paying workers by time rates, piece rates, fixed salaries, profit sharing, and commissions. Some key points covered include: - Filipino maids are often paid by time rates instead of piece rates to prevent overwork and ensure a regular wage. - Sharing total revenue with taxi drivers provides incentive to work harder but lacks fixed costs coverage for owners. - Paying managers a fixed salary plus profit sharing gives incentive to increase profits but guarantees income. - Piece rates incentivize higher productivity from manufacturers but lack flexibility and can increase costs. - Commissions motivate car salespeople to sell more cars while also providing

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 2

    HKCEE ECONOMICS | 4.4 Wage payment | P.

    1. 1990/I/1aiii
    Mrs. Wong is a lawyer and is also good at doing housework, but she employs a Filipino maid to do her
    housework.
    Give TWO reasons why Filipino maids are paid by time rates instead of piece rates. (4 marks)

    2. 1992/I/1c
    Suppose a taxi owner employs a driver to provide a taxi service and shares the total revenue with the driver.
    Suggest and explain ONE advantage and ONE disadvantage of this payment method to the taxi owner.
    (6 marks)
    3. 1993/I/1d
    Yummy Yummy is a fast food shop.
    The manager of ‘Yummy Yummy’ is paid a fixed monthly salary and shares part of the profits. Give ONE
    advantage of EACH of the above two payment methods to the shop. (4 marks)

    4. 1996/I/12b
    Piece rate is a common payment method in the manufacturing industry. From an employer’s point of view,
    explain ONE advantage and ONE disadvantage of this payment method. (4 marks)

    5. 1998/I/11a
    Car agents in general pay their salesmen a commission for each car sold in addition to their basic monthly
    salary. From the viewpoint of car agents, explain TWO advantages of using such a wage payment method.
    (4 marks)
    6. 1999/I/3
    Study the following two advertisements:
    Company A Company B
    Lorry Driver Wanted Lorry Driver Wanted
    Wage : $ 10 000 per month Wage : $ 200 per trip
    Name the two types of wage payment method and give ONE advantage of EACH over the other from the
    viewpoint of the employer. Explain your answer. (6 marks)

    7. 2001/I/9c
    Mr Chan is the owner of a garment factory and pays his workers at piece rate. State ONE advantage and
    ONE disadvantage to Mr Chan of using this payment method over the time rate method. (2 marks)

    24
    HKCEE ECONOMICS | 4.4 Wage payment | P.2

    8. 2007/I/2
    Refer to the following job descriptions of Post A and Post B.

    Post A Post B
    Typing clerk Typing services
    Working hours: 9:00a.m. – 5:00p.m. Transforming documents into WORD files
    5 days a week
    Wage: $8 000 per month Payment: $4 per A4 paper (about 200 words)
    (a) What are the wage payment methods for Post A and Post B, respectively? (2 marks)
    (b) Explain ONE disadvantage to the employer when using the wage payment method in
    (i) Post A. (2 marks)
    (ii) Post B. (2 marks)

    9. 2008/I/9c
    Some employees of securities firms (證券行) are paid a basic salary plus commission.
    Give TWO advantages of such a payment method over time rate to the employers. (4 marks)

    25

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