Final answer:
The scheduling option that allows workers the flexibility to choose their work hours within certain constraints is known as flextime.
Step-by-step explanation:
The scheduling option that allows workers to choose when they start and finish their workdays as long as they complete the required number of hours is known as flextime. This arrangement is particularly suited for part-time workers and younger workers, who tend to have more flexible schedules and can adjust their working hours according to wage incentives or personal preferences. Unlike the rigid schedules experienced by factory workers in history, where tardiness could lead to pay docking or even dismissal, flextime provides a degree of personal freedom and autonomy in managing work and leisure time within the constraints of a 24-hour day.
While traditional full-time workers might have fixed schedules with little variation in response to changing wages—thus showcasing an inelastic labor supply curve—those with flextime arrangements have a more elastic response, adjusting their hours worked accordingly. Flextime can help improve overall job satisfaction, productivity, and balance between work and personal life.