Question

Contrast between time wage and piece wage system

Answer 1

Answer:

piece rate system and method of wage payment to workers based on the quantity of output they have produced time it is term is a method of payment to workers based on the time spent by them for production of output piece rate system helps to fix per unit labour cost in advance

Answer 2

Answer:

Time rate system is a method of wage payment to workers based on time spend by them for the production of output .Piece rate system is a method of wage payment to workers based on quantity of output they have produced .