________ Is the Planned Elimination of Large Numbers of Personnel

question 38

Multiple Choice

________ is the planned elimination of large numbers of personnel designed to enhance organizational effectiveness.

• A)Homesourcing
• B)Downsizing
• C)Retirement
• D)Retraining
• E)Work sharing

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Definitions:

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of a product or service.

Sales Price

The amount of money a buyer pays to purchase a product or service.

Monopolist

A market participant that is the sole provider of a product or service, possessing significant market power to set prices.

Economic Profits

The gap between the total income a business generates and all of its expenditures, taking into account both direct and hidden costs.