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A man leaving his job and preparing for competitive exams is an example of-
- a)Structural Unemployment
- b)Frictional Unemployment
- c)Cyclic Unemployment
- d)Seasonal Unemployment
- e)Urban Unemployment
Correct answer is option 'B'. Can you explain this answer?
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A man leaving his job and preparing for competitive exams is an examp...
Frictional Unemployment
Frictional unemployment occurs when individuals voluntarily leave their jobs to search for better opportunities or when they are transitioning between jobs. In this scenario, the man leaving his job to prepare for competitive exams is a clear example of frictional unemployment.
Explanation
- When individuals leave their current job voluntarily to pursue further education or training, they enter a period of frictional unemployment.
- The process of preparing for competitive exams can be time-consuming and may involve a temporary period of unemployment.
- This type of unemployment is considered to be temporary in nature as the individual is actively seeking new opportunities.
- Frictional unemployment is a common occurrence in dynamic labor markets where individuals are constantly looking for better employment options.
Significance
- Frictional unemployment is a natural part of the job market as individuals seek to improve their skills and career prospects.
- It helps in matching the skills of individuals with the requirements of available job opportunities.
- Policies that aim to reduce frictional unemployment focus on improving information dissemination about job vacancies and enhancing job search skills.
In conclusion, the man leaving his job to prepare for competitive exams exemplifies frictional unemployment as he is voluntarily transitioning between jobs to pursue better career prospects.
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A man leaving his job and preparing for competitive exams is an example of-a)Structural Unemploymentb)Frictional Unemploymentc)Cyclic Unemploymentd)Seasonal Unemploymente)Urban UnemploymentCorrect answer is option 'B'. Can you explain this answer?
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