Question

Define unemployment. What are the types of unemployment ?

Answer 1

Instructions:
Write the meaning of unemployment. Then briefly explain the types which are disguised, seasonal and technological unemployment.

Solution:
Unemployment is the situation where people who are willing and able to work at an existing wage rate do not get a job.
The types of unemployment are as follows:

• Disguised unemployment or underemployed. In this people are not working to their full potential.
• Seasonal unemployment occurs during certain seasons.
• Technological unemployment occurs due to changes in techniques used in production.