The correct answer is D. Equality for all workers.
A satisfactory wage system should be simple, fair, and economical. It should also be based on the principle of equal pay for equal work. However, it is not necessary for a satisfactory wage system to provide equality for all workers. In fact, some wage systems may be more effective if they provide different levels of pay for different types of work.
For example, a company may need to pay its executives more than its entry-level employees in order to attract and retain top talent. Similarly, a company may need to pay its salespeople more than its customer service representatives in order to motivate them to achieve sales goals.
As long as a wage system is fair and economical, it does not need to provide equality for all workers in order to be satisfactory.
Here is a brief explanation of each option:
- Simplicity: A satisfactory wage system should be easy to understand and administer. It should not be so complex that it is difficult to calculate wages or track employee performance.
- Fairness: A satisfactory wage system should be fair to both employees and employers. It should not be so generous that it puts a strain on the company’s finances, but it should also be fair enough to attract and retain top talent.
- Economy: A satisfactory wage system should be economical. It should not be so expensive that it puts a strain on the company’s finances, but it should also be fair enough to attract and retain top talent.
- Equality for all workers: A satisfactory wage system does not need to provide equality for all workers. In fact, some wage systems may be more effective if they provide different levels of pay for different types of work.