In times of economic prosperity,small firms are the first to hire additional workers and big firms are last.In times of economic downswings,small firms are the first to eliminate workers and big firms are last.This reflects which attribute of small firms as compared to large firms?

Question

Quizplus · Accepted Answer

Small firms are generally more flexible and able to quickly adapt to changes in the economic climate, including hiring and firing decisions. Large firms, on the other hand, often have more rigid structures and may take longer to make changes in their workforce. This is why small firms are usually the first to hire during economic growth and the first to lay off during downturns.

In Times of Economic Prosperity,small Firms Are the First to Hire