Which term is used for an addition to normal payment by a company or extra payment of gratuity to workers ?
Correct answer: A. Bonus
- A. Bonus
- B. Overtime
- C. Prize
- D. Gift
Explanation
A bonus is an additional payment made by an employer beyond normal wages, often awarded for performance or as a gratuity. Overtime is payment for extra hours worked, so it is narrower in meaning.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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