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Management Strategic Management Difficulty: Medium

Practice by seller of offering same product at different prices, to different customers is known as Marketing refers to the Marketing is Which of the following statements are true/false? 1. A minimum rate of wages for the time spent by employees for the production of output is minimum time rate. 2. Minimum piece rate is the rate based on the quantity of the output employees have produced. 3. The guaranteed time rate is a minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis. 4. A minimum rate of remuneration to apply in the case of employees employed on piece work for the purpose of securing to such employees a minimum rate of wages on a time work basis is overtime rate. In operating income strategic analysis, a component which measures change in operating income attributed to change in output quantity is classified as