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Business Studies · 2023 · 4 marks
CBSE 2023 · Region 4 · Set 2 · Q26
(a) State any four financial incentives,
(a)
State any four financial incentives,
OR
(b)
State the four needs in Maslow's Need Hierarchy after 'Basic
Physiological Needs'.
Marking-scheme solution
Financial incentives:
(i)
Pay and Allowances includes salary as the basic monetary incentive.
It includes basic pay, dearness allowance and other allowances.
(ii)
Productivity linked wage incentive involves linking payment of
wages of employees to the increase in their productivity at
individual or group level.
(iii)
Bonus involves offering an amount of funds over and above the
wages/ salary to the employees.
(iv)
Profit Sharing involves providing a share in the profits of
the organization to employees.
(v)
Co-partnership/Stock option is an incentive under which
the employees are offered company shares at a set price which
is lower than market price.
(vi)
Retirement Benefits include benefits such as provident
fund, pension and gratuity that provide financial security to
employees after their retirement.
(vii)
Perquisites include incentives such as car allowance,
housing, medical aid and education to the children etc., which
are offered over and above the salary.
State the four needs in Maslow's Need Hierarchy after 'Basic
Physiological Needs'.
Four needs in Maslow's Need Hierarchy after 'Basic Physiological
Needs' are:
(i)
Safety and security needs which provide security and protection from
physical and emotional harm.
(ii)
Affiliation/ Belongingness needs which refer to the need for
affection, sense of belonging, acceptance and friendship.
(iii)
Esteem needs refer to the need for self respect, autonomy status,
recognition and attention.
(iv)
Self actualization needs are the highest level of needs in the
hierarchy and refer to the drive to become what one is capable of
becoming.
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CBSE Class 12 Business Studies past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.