1.

Explain the meaning of the following: (a) Full employment (b) Involuntary unemployment.

Answer»

Full employment: It is a situation in which all those people who are willing to work at the prevailing wage rate get work.

Involuntary unemployment: Involuntary unemployment is a situation in which people are able to work and willing to work at existing rate of wages but do not get work.



Discussion

No Comment Found

Related InterviewSolutions