i. If Prakash is ready to work at the prevailing wage rate in the market, but he is unable to find the work, then what type of unemployment is it?

Question

Observe the following charts and answer the questions given below:

i. If Prakash is ready to work at the prevailing wage rate in the market, but he is unable to find the work, then what type of unemployment is it? Write the reason.

ii. Vishal is an educated youth XYZ company is offering him a job, but he doesn’t want to work. What kind of unemployment is it? Write the reason.

iii. Ajay has passed his degree college by first class and he is working as a factory assembly like a worker. Write the reason.

iv. Write the meaning of full employment.

Answer 1

i. Involuntary Unemployment. It is due to the excess labour force with respect to demand for labour.

ii. Voluntary Unemployment. It is a kind of self unemployment. Here, the person is fit and eligible to work, but wants to remain unemployed.

iii. Underemployment. 

Mr. Ajay could have worked much better as per his qualification, but due to the nonavailability of job opportunities, he is working as a factory assembly.

iv. Full employment is a situation in which all the available resources of the country are being used at their optimum and in the most efficient manner.