Which Term Refers to Reducing the Workforce Through the Departure

question 64

Multiple Choice

Which term refers to reducing the workforce through the departure of employees who resign or retire?

• A) a hiring freeze
• B) a worker loan-out program
• C) attrition
• D) termination

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Definitions:

Barriers to Entry

Factors that prevent or hinder new competitors from easily entering an industry or area of business.

Short Run

A time period in economics during which some factors of production are fixed, influencing decisions on production and costs.

Plant Size

Refers to the physical capacity or scale of a manufacturing facility, which can affect production efficiency, costs, and the firm's ability to satisfy market demand.

Long Run

A period in which all factors of production and costs are variable, allowing for all adjustments to be made within an economy or firm.