Employee Benefits

Antoinette Smith Managerial Economics 640 Week 3 watchword #1 Employee Benefits Employee Benefits; increasingly, employees are being allowed to choose benefit packages from a computer menu of items. For instance, workers may be given a package of benefits that entangles basic and optional items. Basics might include modest medical exam exam coverage, life insurance capable to a years salary, vacation meter based on duration of service, and some retirement pay. entirely then employees can practise credits to choose among such(prenominal) additional benefits as replete medical coverage, dental and centre care, more vacation time, additional handicap income, and higher(prenominal)(prenominal) familiarity payments to the retirement fund. Using the opening of consumer expression, how do you work out flexile benefit packages would affect an employees preference between higher final payment and more benefits? Response; Consumers make their get decisions when the y are whole informed about all things that matter. Next, the theory of consumer behavior describes how consumers demoralize different goods and services. Like sensible, consumer behavior likewise explains how a consumer allocates its income in relative to the purchase of different commodities and how determine affects his or her decision (Thomas & Maurice, 2011). there are two theories that prove to explain consumer behavior. These are the returns theory and the indifference preference theory. supposition of Consumer Behavior is sculptural directly from the theory of constrained maximisation described in Chapter 3 (Thomas & Maurice, 2011). When using the theory of consumer behavior we learn that consumers endure rationally, maximizing their satisfactions. This allows for workers to be given the opportunities of higher wages or more benefits. The theory of consumer behavior when apply to their decision engage maximized satisfaction as a consumer theyd be wise to a llocate (his or her) money so that the last ! clam spent on each product, yields the corresponding amount of bare(a) utility (Thomas & Maurice, 2011)....If you want to get a full essay, place it on our website: BestEssayCheap.com

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