Unit 4.5 - Economic Factors Affecting Compensation Flashcards
1
Q
What are the economic factors that affect compensation?
A
- Inflation
- Interest rates
- Industry competition
- Foreign competition - ex. car manufacturers
- Economic growth
- Demographic trends
2
Q
What are the demographic trends that affect compensation?
A
- Birthrates
- Participation rates
- Immigration
- Education
- Unemployment
