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At which stage of the economic cycle is it most likely for a business to begin to reduce staff working hours? A - HSC - SSCE Business Studies - Question 9 - 2020 - Paper 1
Question 9
At which stage of the economic cycle is it most likely for a business to begin to reduce staff working hours? A. Boom B. Downswing C. Recession D. Upswing
Worked Solution & Example Answer:At which stage of the economic cycle is it most likely for a business to begin to reduce staff working hours? A - HSC - SSCE Business Studies - Question 9 - 2020 - Paper 1
Step 1
Identify the stage of economic cycle where staff reductions are likely
Answer
In the economic cycle, businesses typically begin to reduce staff working hours during a downturn in the economy. Among the provided options, the correct answer is:
B. Downswing.
During this phase, demand for goods and services decreases, leading businesses to cut costs, which often includes reducing staff hours.