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Math Finance C06-L3

Wirtz Math Finance Chapter 6 Lesson 3

commission (C06L3 p303) A method of payment where an employee receives a percentage of the amount of sales produced by that employee.
royalty (C06L3 p303) Money that employees or others receive based on sales, for example an author or musician.
pieceworker (C06L3 p303) A type of worker who is paid for each item the employee produces.
piecework pay (C06L3 p303) The set amount of money that a worker receives for each item the individual produces.