Question

A set income given to an employee on a weekly or monthly basis is known as:

Select one:
a. commission
b. salary
c. stock
d. booth rent

Answer 1

The set income given to an employee on a weekly or monthly basis is known as salary. It is a fixed amount of money that an employee receives regularly, regardless of the number of hours worked.

Step-by-step explanation:

In a market economy like the United States, income comes from ownership of the means of production: resources or assets. The set income given to an employee on a weekly or monthly basis is known as salary. It is a fixed amount of money that an employee receives regularly, regardless of the number of hours worked. Unlike commission, which is a percentage-based payment that varies depending on the sales or performance of the employee, salary provides a stable and predictable income.