Final answer:
Demobilization is the term that refers to equipment authorized to support a peacetime function that ceases to exist in wartime, allowing the equipment to satisfy wartime requirements.
Step-by-step explanation:
The term that refers to equipment authorized to support a peacetime function that ceases to exist in wartime, allowing the equipment to satisfy wartime requirements is demobilization.
After World War II, the United States downsized its military forces and canceled orders for manufactured goods, causing concerns among workers and factory owners. This process of downsizing and canceling orders is known as demobilization.
During World War II, the U.S. government had built up a large military and industrial infrastructure to support the war effort. However, once the war ended, the need for such infrastructure decreased, leading to demobilization.