Define the term Unemployment.

      

Define the term Unemployment.

  

Answers


Kavungya
Unemployment refers to a situation where individuals that are supposed to be used in production are willing and able to be employed at the existing wage rates, but are unutilized or underutilized.

Unemployment rate is computed as follows:
fig391081402.png
Kavungya answered the question on August 10, 2021 at 09:03


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