The Ability of Business to Respond Effectively to Market Conditions

question 6

Multiple Choice

The ability of business to respond effectively to market conditions, such as fluctuations in demand or sales, through flexible employment arrangements can be referred to as:

• A) Social responsibility
• B) Labour market flexibility
• C) Employee protection
• D) Right to manage

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Definitions:

Continuous Random Variable

A type of random variable that can take an infinite number of values within a given range, reflecting outcomes of continuous measurements.

Probability Density Function

A function that describes the likelihood of finding a continuous random variable within a particular range of values.

Random Variable

A variable with values that are contingent upon the results of a stochastic event.

Uniform Distribution

A type of probability distribution where all outcomes are equally likely to occur.