Examlex
Which of the following is a short-term strategy aimed at cutting the number of employees through programs such as voluntary severance packages and layoffs or terminations?
Labor
The physical and mental effort used in the production of goods and services.
Marginal Product
The increase in output that arises from an additional unit of input.
Nonlabor Resources
Resources used in the production process that do not involve human labor, such as capital, land, and raw materials.
Worker
An individual who performs tasks or services for compensation, contributing labor to an economy.
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