Year 11 Exam  >  Year 11 Notes  >  Economics for GCSE/IGCSE  >  Consequences of Unemployment

Consequences of Unemployment | Economics for GCSE/IGCSE - Year 11 PDF Download

Consequences of Unemployment

  • Unemployment repercussions can be highly detrimental, particularly in cases of prolonged joblessness. The effects extend to individuals, the economy, governmental structures, and businesses.

Consequences of Unemployment | Economics for GCSE/IGCSE - Year 11

  • Government Impacts: Governments experience a decrease in tax revenue and an increase in welfare spending.
  • Individual Impacts: Unemployment leads to significant emotional, relational, and financial challenges for individuals.
  • Business Impacts: Businesses may struggle to rehire workers once the economy starts recovering as workers may have found other opportunities.
  • Economic Effects: The economy shrinks due to the inefficient utilization of available resources.

Question for Consequences of Unemployment
Try yourself:
What is one of the consequences of unemployment on governments?
View Solution

The document Consequences of Unemployment | Economics for GCSE/IGCSE - Year 11 is a part of the Year 11 Course Economics for GCSE/IGCSE.
All you need of Year 11 at this link: Year 11
71 videos|82 docs|39 tests

Top Courses for Year 11

FAQs on Consequences of Unemployment - Economics for GCSE/IGCSE - Year 11

1. What are the economic consequences of unemployment?
Ans. Unemployment can lead to decreased consumer spending, reduced economic growth, and increased government spending on social programs to support those who are unemployed.
2. How does unemployment impact individuals and families?
Ans. Unemployment can cause financial strain, loss of self-esteem, and can lead to mental health issues such as depression and anxiety for individuals and their families.
3. What are the social consequences of unemployment?
Ans. Unemployment can lead to social isolation, strained relationships, and can contribute to an increase in crime rates within communities.
4. How does unemployment affect a country's overall productivity?
Ans. Unemployment reduces a country's overall productivity as there are fewer workers contributing to the economy, which can lead to a decrease in output and efficiency.
5. What are some long-term consequences of prolonged unemployment?
Ans. Prolonged unemployment can lead to skill degradation, decreased employability, and can have lasting effects on an individual's financial stability and overall well-being.
71 videos|82 docs|39 tests
Download as PDF
Explore Courses for Year 11 exam

Top Courses for Year 11

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Related Searches

Previous Year Questions with Solutions

,

pdf

,

ppt

,

past year papers

,

Consequences of Unemployment | Economics for GCSE/IGCSE - Year 11

,

Important questions

,

Viva Questions

,

practice quizzes

,

Exam

,

mock tests for examination

,

MCQs

,

Free

,

Consequences of Unemployment | Economics for GCSE/IGCSE - Year 11

,

Sample Paper

,

study material

,

shortcuts and tricks

,

Objective type Questions

,

Consequences of Unemployment | Economics for GCSE/IGCSE - Year 11

,

Extra Questions

,

video lectures

,

Semester Notes

,

Summary

;