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Consider the following passage:
Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.
Which of the following unemployment types is being referred to in the above passage?
- a)Structural Unemployment
- b)Frictional Unemployment
- c)Institutional Unemployment
- d)Seasonal Unemployment
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Consider the following passage:Rather than being caused by the ebbs a...
- Unemployment can be defined as a state of worklessness for a person who is fit and willing to work at the current wage rate. It is a condition of involuntary and not voluntary idleness. Involuntary unemployment can be further divided into cyclical unemployment, seasonal unemployment, structural unemployment, frictional unemployment, natural rate of unemployment, disguised unemployment and under employment.
- Structural unemployment arises due to long term change in the pattern of demand that changes the basic structure of the economy. Rather than being caused by the ebbs and flows of the business cycle, structural unemployment is caused by fundamental shifts in the makeup of the economy—for example, when computers were introduced, many workers were dislodged because of a mismatch between the existing skills of the workers and the requirement of the job. It is a mismatch between the supply and demand for certain skills in the labor market. Hence, option (a) is correct.
- Frictional unemployment occurs when a person is out of one job and is searching for another for different reasons such as seeking a better job, being fired from a current job, or having voluntarily quit a current job. It generally requires some time before a person can get the next job. During this time he is frictionally unemployed.
- Institutional unemployment consists of the component of unemployment attributable to institutional arrangements, such as high minimum wage laws, discriminatory hiring practices, or high rates of unionization. It results from long-term or permanent institutional factors and incentives in the economy.
- Seasonal unemployment occurs in a particular time of the year or season and thus is known as seasonal unemployment. Seasonal unemployment is most common in industries like agriculture, tourism, hotel, catering etc.
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Consider the following passage:Rather than being caused by the ebbs a...
Structural Unemployment:
Structural unemployment is the type of unemployment being referred to in the passage. It occurs when there is a mismatch between the skills workers possess and the skills required for the available jobs in the economy. This type of unemployment is caused by fundamental shifts in the economy, such as changes in technology, globalization, or shifts in consumer preferences.
Causes of Structural Unemployment:
- Changes in technology: When new technologies are introduced, some jobs become obsolete, leading to unemployment for those workers who lack the necessary skills to adapt.
- Globalization: Increased competition from overseas can lead to job losses in certain industries, causing structural unemployment.
- Shifts in consumer preferences: Changes in consumer demands can impact certain industries, leading to a decrease in demand for certain skills.
Characteristics of Structural Unemployment:
- Long-lasting: Structural unemployment tends to be more persistent compared to other types of unemployment.
- Requires retraining: Workers affected by structural unemployment may need to acquire new skills or retrain in order to find employment in other sectors.
- Not cyclical: Unlike cyclical unemployment, which is caused by fluctuations in the business cycle, structural unemployment is not directly related to economic conditions.
In conclusion, the passage describes structural unemployment as a type of unemployment caused by mismatch between the supply and demand for certain skills in the labor market, resulting from fundamental shifts in the economy.
Structural unemployment is the type of unemployment being referred to in the passage. It occurs when there is a mismatch between the skills workers possess and the skills required for the available jobs in the economy. This type of unemployment is caused by fundamental shifts in the economy, such as changes in technology, globalization, or shifts in consumer preferences.
Causes of Structural Unemployment:
- Changes in technology: When new technologies are introduced, some jobs become obsolete, leading to unemployment for those workers who lack the necessary skills to adapt.
- Globalization: Increased competition from overseas can lead to job losses in certain industries, causing structural unemployment.
- Shifts in consumer preferences: Changes in consumer demands can impact certain industries, leading to a decrease in demand for certain skills.
Characteristics of Structural Unemployment:
- Long-lasting: Structural unemployment tends to be more persistent compared to other types of unemployment.
- Requires retraining: Workers affected by structural unemployment may need to acquire new skills or retrain in order to find employment in other sectors.
- Not cyclical: Unlike cyclical unemployment, which is caused by fluctuations in the business cycle, structural unemployment is not directly related to economic conditions.
In conclusion, the passage describes structural unemployment as a type of unemployment caused by mismatch between the supply and demand for certain skills in the labor market, resulting from fundamental shifts in the economy.
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Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer?
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Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect 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 Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect 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 Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer?.
Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect 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 Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect 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 Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following passage:Rather than being caused by the ebbs and flows of the business cycle, this type of unemployment is caused by fundamental shifts in the makeup of the economy. This type of unemployment arises due to mismatch between the supply and demand for certain skills in the labour market.Which of the following unemployment types is being referred to in the above passage?a)Structural Unemploymentb)Frictional Unemploymentc)Institutional Unemploymentd)Seasonal UnemploymentCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice UPSC tests.
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