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When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.
- a)Unemployment
- b)Willingly unemployed
- c)Underemployment
- d)None
Correct answer is option 'A'. Can you explain this answer?
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When a labour does not get employment opportunity despite his willingn...
Understanding Unemployment
Unemployment refers to a situation where individuals who are willing and able to work are unable to find job opportunities. This concept is crucial in understanding the dynamics of the labor market and its impact on the economy.
Key Characteristics of Unemployment:
- Willingness to Work:
Individuals are actively seeking employment and are ready to work at the prevailing wage rate.
- Absence of Job Opportunities:
Despite their willingness, these individuals are unable to secure jobs due to various factors such as economic downturns, lack of job vacancies, or skills mismatch.
- Measurement of Unemployment:
Economists often measure unemployment rates through surveys and data collection to assess the health of the economy and labor market.
Types of Unemployment:
- Cyclical Unemployment:
Linked to the economic cycle, where job losses occur during recessions.
- Structural Unemployment:
Arises from shifts in the economy that create a mismatch between workers’ skills and job requirements.
- Frictional Unemployment:
Short-term unemployment that occurs when individuals are temporarily between jobs or entering the workforce for the first time.
Conclusion:
In summary, option 'A', unemployment, accurately describes the situation where a laborer is willing to work at the existing wage rate but cannot find employment. Understanding this concept helps policymakers develop strategies to stimulate job creation and address labor market inefficiencies.
Unemployment refers to a situation where individuals who are willing and able to work are unable to find job opportunities. This concept is crucial in understanding the dynamics of the labor market and its impact on the economy.
Key Characteristics of Unemployment:
- Willingness to Work:
Individuals are actively seeking employment and are ready to work at the prevailing wage rate.
- Absence of Job Opportunities:
Despite their willingness, these individuals are unable to secure jobs due to various factors such as economic downturns, lack of job vacancies, or skills mismatch.
- Measurement of Unemployment:
Economists often measure unemployment rates through surveys and data collection to assess the health of the economy and labor market.
Types of Unemployment:
- Cyclical Unemployment:
Linked to the economic cycle, where job losses occur during recessions.
- Structural Unemployment:
Arises from shifts in the economy that create a mismatch between workers’ skills and job requirements.
- Frictional Unemployment:
Short-term unemployment that occurs when individuals are temporarily between jobs or entering the workforce for the first time.
Conclusion:
In summary, option 'A', unemployment, accurately describes the situation where a laborer is willing to work at the existing wage rate but cannot find employment. Understanding this concept helps policymakers develop strategies to stimulate job creation and address labor market inefficiencies.
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When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.a)Unemploymentb)Willingly unemployedc)Underemploymentd)NoneCorrect answer is option 'A'. Can you explain this answer?
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When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.a)Unemploymentb)Willingly unemployedc)Underemploymentd)NoneCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.a)Unemploymentb)Willingly unemployedc)Underemploymentd)NoneCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.a)Unemploymentb)Willingly unemployedc)Underemploymentd)NoneCorrect answer is option 'A'. Can you explain this answer?.
When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.a)Unemploymentb)Willingly unemployedc)Underemploymentd)NoneCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.a)Unemploymentb)Willingly unemployedc)Underemploymentd)NoneCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When a labour does not get employment opportunity despite his willingness to work at the existing wage rate.a)Unemploymentb)Willingly unemployedc)Underemploymentd)NoneCorrect answer is option 'A'. Can you explain this answer?.
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