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Business Math Ch. 1

Vocabulary

QuestionAnswer
Pay that is one and a half times the regular pay rate. Time-And-A-Half Pay
Pay that is twice the regular pay. Double-Time Pay
A pay system in which commission is the only pay; there is no other wage or salary. Straight Commission
A pay system in which the rate of commission increases as the base increases. Graduated Commission
A wage system in which workers are paid by the number of pieces produced. Piece Rate
Amount of money given to someone for services they provide. Tips
An employee who is needed and paid by the day. Per Diem
A person or company that an employee works for. Employer
The total amount that an employee is paid. Gross Pay
Time worked beyond the regular working day or week. Overtime
A fixed amount of sales above which commission is paid. Quota
A person who works for others. Employee
A payment amount to a salesperson that may be an amount for each item sold or it may be a percent of the dollar value of sales. Commission
An amount of pay each hour worked. Hourly Rate
A single number used to represent a group of numbers. Average
A fixed amount of money for each time period worked, such as a day, week, month, or year. Salary
Created by: acopper on 2009-04-01



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