Final answer:
The term that denotes the composition of a workforce based on diverse factors is 'workforce diversity'(option d). This concept emphasizes the presence of various demographic characteristics and reduce discrimination in employment.
Step-by-step explanation:
The term that describes the composition of a workforce based on factors such as race, gender, age, religious affiliation, sexual orientation, and able-bodiedness is workforce diversity. Workforce diversity reflects the variety and individual differences that exist among people working together in an organization.
An increasingly diverse workforce leads to a blend of backgrounds, perspectives, and experiences within a company. This diversity can enhance innovation, creativity, and understanding of different markets but can also bring forward challenges concerning discrimination and equality of opportunity in the workplace.
Discrimination, in the context of the labor market, occurs when workers with similar qualifications, including education, experience, and skill, receive different compensation or job opportunities based on race, gender, religion, age, or disability.
Such discriminatory practices are prohibited by various public policies, advocating for equal pay for equal work and the pursuit of equal education opportunities to narrow earnings gaps among workers of different demographics.