Employee Benefits

Antoinette Smith Managerial Economics 640 Week 3 countersign #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 intromits basic and optional items. Basics might include modest medical exam coverage, life insurance passable to a years salary, vacation meter based on aloofness of service, and some retirement pay. entirely then employees can work credits to choose among such(prenominal) additional benefits as intact medical coverage, dental and centre care, more vacation time, additional damage income, and high familiarity payments to the retirement fund. Using the supposition of consumer demeanor, how do you estimate flexile benefit packages would affect an employees preference between high final payment and more benefits? Response; Consumers make their buying decisions when they are whole informed about al l things that matter. Next, the theory of consumer behavior describes how consumers demoralize different goods and services. Like sensible, consumer behavior besides explains how a consumer allocates its income in relative to the purchase of different commodities and how damage affects his or her decision (Thomas & Maurice, 2011). there are two theories that search to explain consumer behavior.

These are the returns theory and the indifference preference theory. system of Consumer Behavior is sculptural directly from the theory of constrained maximization described in Chapter 3 (Thomas & Maurice, 2011). W hen 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 employ to their decision engage maximized satisfaction as a consumer theyd be wise to allocate (his or her) money so that the last clam spent on each product, yields the analogous 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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