Download the BYJU'S Exam Prep App for free IAS preparation videos & tests - Download the BYJU'S Exam Prep App for free IAS preparation videos & tests -

Unemployment and low income are one of the best examples to understand socio-economic development. If the unemployment rate is high, people have to work for industries that are lower than their ability on a way lesser pay scale. This suppresses the overall socio-economic development. However, if an economy is flourishing, there will be more job opportunities and the income will also be high, thereby, improving the society and economy as a whole. 

Further Reading:

Aspirants can refer to Economics Notes For UPSC for detailed preparation strategy and study material. 

Related Links
UPSC Prelims Questions and Answers on Economy Indian Economy
Economy This Week Syllabus and Strategy for Economics
Important Economic Terms for UPSC Inflation in Economy

Comments

Leave a Comment

Your Mobile number and Email id will not be published.

*

*