A Manufacturing Operation Began with 85 Staff Members

question 336

Multiple Choice

A manufacturing operation began with 85 staff members. On April 1, 4 employees were hired; on June 1, 3 employees retired; and on November 1, another 3 employees were hired. Determine the average number of workers during the year.

• A) 86.75
• B) 88
• C) 89.25
• D) 91.25
• E) 92.75

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Definitions:

Money

A medium of exchange used to facilitate transactions for goods and services.

Goods and Services

The products and activities offered by businesses to satisfy economic needs or wants; goods are tangible items, while services are intangible acts or performances.

Factors of Production

Resources used in the production of goods and services, typically categorized into land, labor, capital, and entrepreneurship.

Households

Economic units consisting of all the people who occupy a housing unit, making decisions about resource allocation, consumption, and labor supply.