To cope with different changes and uncertainties, economists use such techniques as:

To keep a close watch on financial affairs of a firm, to see that its resources are being used in the most profitable way, is the main task of:

There are no distinctions between manual and white-collar workers by paying annual salaries to both.

The majority of employees receive some fringe benefits in addition to their wages or salaries.

Nowadays there are no big differences between wages and salaries and the ways, in which they are paid, there have been some major changes in the last few years.

Performance is often rated against a list of achievements which have been agreed between an employee and his or her line manager, or immediate boss.

Merit pay for constant good performance at work will not cause resentment among other workers who think their work is just as good.

A standard rate of production is fixed for each job by measuring the time taken to do it.

Income tax and national insurance are statutory deductions, which must be made by law.

If the employees were given more fringe benefits, they would have to pay more tax.