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People who are unwilling to work at the existing wage rate are :
- a)Voluntary unemployed
- b)Frictional unemployed
- c)Casual unemployed
- d)Seasonal unemployed
Correct answer is option 'A'. Can you explain this answer?
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People who are unwilling to work at the existing wage rate are :a)Volu...
Voluntary Unemployment
Voluntary unemployment refers to a situation where individuals choose not to work at the existing wage rate. This is a conscious decision made by the individuals based on various factors such as personal preferences, skills, location, and working conditions.
Reasons for voluntary unemployment
1. Low wage rate: If the existing wage rate is too low, individuals may choose not to work as it may not be economically viable for them.
2. Lack of suitable job opportunities: If there are no suitable job opportunities available in the relevant field, individuals may choose to remain unemployed.
3. Personal preferences: Some individuals may prefer to stay at home and take care of their family or pursue other personal interests rather than working.
4. Alternative sources of income: If individuals have other sources of income such as investments or rental income, they may choose not to work.
5. Discrimination: Individuals may choose not to work if they face discrimination based on their gender, race, or religion.
Conclusion
Voluntary unemployment is a conscious decision made by individuals not to work at the existing wage rate. This may be due to various reasons such as low wage rate, lack of suitable job opportunities, personal preferences, alternative sources of income, or discrimination.
Voluntary unemployment refers to a situation where individuals choose not to work at the existing wage rate. This is a conscious decision made by the individuals based on various factors such as personal preferences, skills, location, and working conditions.
Reasons for voluntary unemployment
1. Low wage rate: If the existing wage rate is too low, individuals may choose not to work as it may not be economically viable for them.
2. Lack of suitable job opportunities: If there are no suitable job opportunities available in the relevant field, individuals may choose to remain unemployed.
3. Personal preferences: Some individuals may prefer to stay at home and take care of their family or pursue other personal interests rather than working.
4. Alternative sources of income: If individuals have other sources of income such as investments or rental income, they may choose not to work.
5. Discrimination: Individuals may choose not to work if they face discrimination based on their gender, race, or religion.
Conclusion
Voluntary unemployment is a conscious decision made by individuals not to work at the existing wage rate. This may be due to various reasons such as low wage rate, lack of suitable job opportunities, personal preferences, alternative sources of income, or discrimination.
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People who are unwilling to work at the existing wage rate are :a)Voluntary unemployedb)Frictional unemployedc)Casual unemployedd)Seasonal unemployedCorrect answer is option 'A'. Can you explain this answer?
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