Which Term Below Means Flexible Working Hours Whereby an Employee

question 54

Multiple Choice

Which term below means flexible working hours whereby an employee can customize his or her own work hours within limits established by management?

• A) flextime
• B) compressed workweek
• C) job sharing
• D) telecommuting

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Definitions:

Minimum ATC

The lowest point on the Average Total Cost curve, indicating the most efficient scale of production for a firm in the long run.

Economic Profit

Profits earned by a firm or an individual after subtracting both the explicit costs and opportunity costs of resources employed.

Short Run

A time period in which at least one factor of production is fixed and cannot be changed, contrasting with the long run where all factors are variable.

Perfectly Competitive Firm

A company that operates in a market where there are many buyers and sellers, where it sells a homogeneous product and where there is free entry and exit from the market.